If we look at visible range volume profile on $BTC we can see the big bars of volume on 118K zone.
On the other hand, there's barely any volume around 110K to 112K . My expectation is we will see a price trace back to here. #bitcoin will go sideways to generate volume here and use this as support to go for 124K again.
The $BTC Fear & Greed Index is currently at 'Neutral.'
Historically, when the Fear & Greed Index reaches 'Extreme Greed,' the market often undergoes a swift correction, acting as a reset for the chart. This correction typically provides the market with the strength needed to stabilize and regain momentum.
You can get a macro idea by looking on this index. What could be the possible outcome in near future.
This chart clearly illustrates that $BNB has held strong compared to other competitors in recent market conditions. While $XRP , $ETH, and $SOL experienced declines of approximately 18%, 22%, and 32%, respectively, BNB only corrected by 6%.
This highlights $BNB 's stability, likely driven by its strong ecosystem, including the Binance exchange's robust trading volume and utility in DeFi applications. The data reflects market performance over the past month, showcasing $BNB 's ability to make a safe asset.
The FOMC rate cut decision is coming in 1.5 hours! There's a 96% chance of no rate cut. However, if we get a surprise rate cut due to recent economic activity, the market could soar!
Otherwise, $BTC may face a correction. Keep your eyes open 👀 !
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BITCOIN dominance's closest retest was unsuccessful. So, we're going back to 60% again.
If dominance make a double bottom, it's going to be great for $BTC and the alts. I'd suggest, start studying your favourite token's entry points for SCALP 👀
$BNB Chain outperforms other competitors in teams of active addresses when it comes to stablecoin usage 🔥
Closest competitor is $TRX with 9.6 million active addresses while $BNB chain has 11.8 million 🔝 With its lightning-fast transactions, low fees, and wide ecosystem, it's no surprise that BNBCHAIN is the go-to platform for stablecoin users worldwide.
Noticing significant upward movement in BTC dominance but barely any movement in $BTC from yesterday which caused the alts to move down a noticeable amount.
This is nothing out of the ordinary. The closest support is at 60% as you can see and I'm expecting it to drop down there. If that happens, we could see the alts to rise a fair amount once again.
Ever since the FUD in 2023, $BNB has been consistently rising. Always maintaining a uptrend. Kept making higher highs. This is the definition of a great token to invest in.