Market capitalization has dropped to 3.79 trillion. The dominance index is still below 60%, and altcoins are holding quite confidently for now.
Why are we falling?
They couldn't hold 4 trillion in capitalization and secure it - a pullback for refueling is logical.
Perhaps down to the level of 3.55-3.65 trillion, if conditions allow.
The market is shaking out leverage enthusiasts, as well as those who are ready to sell assets because they have dropped by a few percent.
There is an improvement in the quality of the audience, which is a necessary condition for growth.
The stock market is falling, which has currently triggered a correction in the crypto market.
Saylor has encountered difficulties in raising funds to buy Bitcoin due to the decline in the company's stock. Stocks are falling because he is issuing and selling them in large quantities. We will discuss this topic separately.
The next support for Bitcoin is at the level of 112500-112000, which was already tested in early August. Either we return above 115K within a few hours, or we will go to this support. This has no practical significance for the further prospects of the market. All plans for Bitcoin and the TOP remain unchanged.
Several news items:
- Analysts at BernStein believe that the growth of crypto will continue throughout 2026, with altcoins rising after Bitcoin.
Their forecast for Bitcoin is 150-200K in 2026.
They will start predicting Bitcoin at 1 million when it is already priced at 700-800K).
The other news is not much different in variety).
- BlackRock already owns 3% of all BTC.
- KindlyMD company purchased 5744 BTC for its balance.
- SharpLink Gaming bought another 143,593 ETH for its balance.
Let's add some negativity for the balance.
- There is a large queue for withdrawals from staking in Ethereum. This scares many and encourages them to open shorts. I think that shorting Ethereum in the near future will bring pain and suffering).
Forecast for the next 24 hours - Bitcoin in the range with a lower boundary of 112000-112500 and an upper limit of 116000-117000.
An alternative option is to secure above 117K.
"TAKEN FROM THE MAIN CRYPTO CHANNEL"
