Altseason is canceled: Bitcoin is scooping up all the chips from the table
Dominance $BTC has broken through 60.66% and is crawling upward. We've been stuck in the 58-60% range for eight months, and now we’ve seen a breakout. A target of 66% seems realistic now. Capital is flowing out of alts to Bitcoin like water through sand.
The altseason index is hanging at 37 out of 100, while we need 75. The pair $ETH /BTC has been trading at 0.02980 in a downtrend since 2017. This could last a while, even analysts are asking for patience.
Retail is getting jittery: fear index at 32. But on-chain data goes against the crowd. Whales have scooped up 270,000 BTC in the last 30 days. The largest buy since 2013. While some are running to cash, the smart money is vacuuming up coins from the floor.
Two barriers for the bulls. Mark at 82,000: breakeven point for short-termers. Mark at 91,000: the veteran investor zone. We are below both levels, and the market is in the red. If we rise to 82K, breakeven sales will kick in. We need a serious push from an ETF or macro factors.
BTC has added 13% since April, but no one is happy. This is called a disbelief rally. Nobody believes, and that’s the fuel. But first, we need to storm 82,000. Alts will be sleeping until dominance hits the ceiling and bounces back. Or until Bitcoin reaches ATH. We wait. Accumulation time.
#BTC #BTC.D #Altseason #CryptoNews
Dominance $BTC has broken through 60.66% and is crawling upward. We've been stuck in the 58-60% range for eight months, and now we’ve seen a breakout. A target of 66% seems realistic now. Capital is flowing out of alts to Bitcoin like water through sand.
The altseason index is hanging at 37 out of 100, while we need 75. The pair $ETH /BTC has been trading at 0.02980 in a downtrend since 2017. This could last a while, even analysts are asking for patience.
Retail is getting jittery: fear index at 32. But on-chain data goes against the crowd. Whales have scooped up 270,000 BTC in the last 30 days. The largest buy since 2013. While some are running to cash, the smart money is vacuuming up coins from the floor.
Two barriers for the bulls. Mark at 82,000: breakeven point for short-termers. Mark at 91,000: the veteran investor zone. We are below both levels, and the market is in the red. If we rise to 82K, breakeven sales will kick in. We need a serious push from an ETF or macro factors.
BTC has added 13% since April, but no one is happy. This is called a disbelief rally. Nobody believes, and that’s the fuel. But first, we need to storm 82,000. Alts will be sleeping until dominance hits the ceiling and bounces back. Or until Bitcoin reaches ATH. We wait. Accumulation time.
#BTC #BTC.D #Altseason #CryptoNews