Bitcoin is holding around 111K, with dips below being bought back. There was a short-term drop below 108700 (the minimum since July).
Market capitalization is 3.78 trillion, dominance index 58.15%.
Stock indices were down at the start of the American session, but are now in the positive. The dollar index has also gone down.
The markets were pleased by Trump, who stated that Powell would soon leave, and we (he obviously meant those who support his view on monetary policy) will soon have a majority in the Fed.
Yesterday the market reacted negatively to the news about Trump's attack on the Fed.
I am currently coming to the opinion that let Trump do whatever he wants with the Fed, as long as they quickly lower the rate and start generating money. Because this will give an immediate increase in assets (especially crypto) now, and the reckoning for this will come later.
I agree. I certainly don't care about the US economy and the dollar. And for the growth of crypto assets, generating dollars is the best thing that can happen.
In the crypto market, everything is still the same. Altcoins are stronger than Bitcoin, the dominance index is decreasing.
Solana and BNB look stronger than the market, and Ether quickly returned to 4500 and is ready for another attempt to reach 5K.
The bottom for market capitalization is at 3.55-3.65 trillion. But for now, it is confidently held above 3.7 trillion and could well go to 4 trillion straight from here. A drop of Bitcoin below 110K and almost a billion in liquidations is quite enough for a top-up and improvement of audience quality.
Especially considering that corporate buyers are still buying Ether, Solana, BNB in bags, and Saylor bought over 3000 BTC yesterday.
I think it is quite likely that Bitcoin will return above 112K in the near future. If this happens after another drop to 108000-107500 - it changes nothing.
But this drop is not mandatory, we've been there already.
All plans and goals regarding Bitcoin and top altcoins are intact.
"TAKEN FROM THE MAIN CHANNEL ON CRYPTO"
