It's currently moving towards 120K. All of this is within the range established a week ago.
Changes are more significant for altcoins. Ethereum and Solana have updated their local highs (Ethereum reached 3824, Solana 189.50). A lot of the top has increased by 10-15% over the weekend.
The dominance index is already below 61%.
The external backdrop is neutral-positive. The dollar index has gone down, futures on stock indices are rising, and no important data is expected today.
The negativity may come from tariffs for the customs service, which will enter Sydney on August 1.
The closer the date gets, the more loud statements will come from Trump and the company. However, they will likely limit themselves to rhetoric, as they have before.
Company reports, whose season is currently underway, may also affect the stock market.
Of the mentioned ghosts of alt-season, three have already played out, and the fourth is in process. So, alt-season is already in the same room with us.
Ethereum has already doubled since the bottom of March-April, XRP has updated its highs, and Sol will be above 200 already this week (or rather - within the next day).
This has been mentioned on the channel for several months; those who listened are already in good profit. For the rest, it’s not too late; an ID above 60% is just the start.
Will there be a correction?
Growth without corrections does not happen. Bitcoin support has formed in the area of 115700-116500; if we do not hold above 120K, we can very well pull back there.
The market capitalization is currently 3.89 trillion. We are expected to hit the level of 4 trillion; I mentioned this here.
We may reach this level in the next couple of days (especially if Trump does indeed provide positive news regarding pension funds); we may also pull back first, but this won't play a significant role for further prospects.
Today I expect Bitcoin to be in a range with a lower boundary at 116000-115000 and an upper boundary at 12000-122000.
An alternative option is to hold above 122K.
