Alts continue to fall as cryptocurrency market faces new wave of turbulence as uptrend hits resistance. Total market cap falls to $3.15 trillion
One of the main reasons for the decline $BTC is the significant outflow of funds from Bitcoin ETFs in recent times. And although the selling pressure is noticeable, and many market participants are already having doubts about the market's prospects, key macroeconomic indicators (MVRV, Puell) suggest that the bull run is not over yet. Therefore, the current situation should be viewed as a correction before a new rise. Although it is worth recognizing that the correction may be even deeper.
Decline in Bitcoin Dominance Index and Strengthening of $ETH ETH May Be a Harbinger of Alts' Growth. While Bitcoin Dominance Index currently exceeds 60%, the volume of Ether on exchanges has fallen to a historical minimum - only 6.38% of the total turnover, Santiment reports. This means that investors are in no hurry to sell ETH and prefer to store it outside of exchanges, which reduces the pressure from sellers. Hopefully, March will be more productive for the market.
