🔥 $BTC and Altcoins - Analysis for Today. Bitcoin. Altcoins
➡️ BTC, after breaking and consolidating below the ascending medium-term trend, entered a local flat and received a minimal bounce from the correction.
➡️ BTC dominance started a correction, giving altcoins a chance to bounce. Some altcoins updated local peaks.
➡️ This indicates a capital overflow from BTC into altcoins. ETH as an indicator shows signs of bottom formation or being close to it.
Main indicator: breaking the pattern line for BTC dominance at a level just below 59%. This level may still be 'chopped', as well as local corrections.
📈 Market and Key Levels
Support: 112 500$ (key support level).
If not held: correction targets → 110 400$ and 108 800$.
Deeper correction - support zone.
Important: there is one month left before rate cuts. During this time, MM and whales can shake the market as much as possible, create uncertainty, and a 'trap' for exiting at breakeven → before the rise.
📊 Metric Data
Inflows to exchanges exceed outflows by 3000 BTC (+4%).
Long positions are overheated → unloading is needed.
Miners reduced sales.
Large wallets continue to sell.
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