The local minimum was established at 112380, and the price of the main cryptocurrency is now around 114000.
Market capitalization is $3.8 trillion, dominance index is 59.58%.
The external background is negative, stock indices are declining. The dollar index is rising and is already above 98.200, while the yield on 10-year bonds is going down, which is an anomaly.
Why is the market falling?
Firstly, it had been rising for a long time before that. Stock indices repeatedly reached new highs.
Secondly, clear falsifications with figures regarding the labor market and inflation have pushed many market participants to take profits.
Thirdly, markets are somewhat tense about the call for Israeli reservists for the occupation of Gaza.
Fourth, August-September are historically the weakest months for the US stock market.
Will the American market fall significantly?
I don't think so.
The crypto market could not reach the capitalization level of $4 trillion, the importance of which has been mentioned many times. And the stock market provided a good reason for a refueling.
Meanwhile, altcoins are holding up well - during the decline, Bitcoin's dominance index remains below 60%, while Ethereum confidently holds above the support level of 4200-4000. Solana also looks quite strong.
Today, the minutes of the Fed meetings will be released on the stock market, which may cause movements. This will be at 21:00 MSK.
Yesterday's forecast for Bitcoin remains valid. However, if there is some extreme movement and the support area at 112500-112000 does not hold, the next support will be 110000-109500.
The U.S. Congressional Budget Office has stated that as a result of legislative changes and the introduction of tariffs, the U.S. budget deficit over the next 10 years will be $1 trillion higher than forecasted in January. Source.
U.S. Treasury Secretary Scott Bessen states that participants in the crypto industry will become key buyers of U.S. government debt in the coming years. Through stablecoins, which, according to recently passed legislation, are backed by U.S. government bonds.
"TAKEN FROM THE MAIN CRYPTO CHANNEL"
