ALTCOINS RETRACE AGAIN AS BITCOIN (BTC) PRICE LOSES $105K LEVEL (MARKET WATCH)!

Bitcoin's price has dropped below $105,000, currently trading at $104,532.53 with a 0.73% decrease. This decline has triggered a broader market correction, impacting altcoins significantly.

Altcoin Performance:

- Avalanche (AVAX): Down 5% to trade just above $20

- Uniswap (UNI): Lost over 5% in value

- Monero (XMR): Plummeted 8%

- HYPE, DOGE, and LINK: Also in the red

- Cardano (ADA), SUI, and XRP*: Down up to 2%

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Market Trends:

- Bitcoin's market capitalization stands at $2.094 trillion, with a dominance of over 61% over altcoins

- The cumulative market capitalization of all cryptocurrencies has dropped by over $30 billion, currently below $3.410 trillion

- Analysts predict potential upward movement if Bitcoin holds above $104,700, with resistance at $106,800 and support at $100,000-$102,000

Analyst Insights:

- Crypto analyst Doctor Profit forecasts potential upward movement following Bitcoin's recent all-time high, citing the Golden Cross formation on the weekly chart as a historic pattern preceding multi-month rallies.

- Riya Sehgal notes strong institutional accumulation, with mid-to-large wallets adding over 79,000 BTC this week#CUDISBinanceTGE #BinanceAlphaAlert #altcoins $BTC $ETH $XRP