$BTC
The cryptocurrency market has recently experienced a continuation of the corrective trend, with Bitcoin (BTC) facing strong selling pressure at the key resistance level of $94,000. This indicates market concerns about a short-term peak or concentrated profit-taking at this price. However, it is important to note that the correction has effectively stabilized at the round psychological support level of $91,000, establishing a strong short-term base for the market.
Stabilization of Bitcoin at the $91,000 level is crucial for the cryptocurrency market in general. It confirms that the current market adjustment remains within a healthy and shallow range. Most importantly, the stabilization of the key index provides a significant boost to the altcoin market, creating favorable conditions for capital flow towards high-risk assets.
II. Resilience of the Altcoin Market and Structural Shift
Despite Bitcoin's stabilization, the altcoin market has shown a relatively notable resilience and increasing activity.
Data indicates that even with altcoins' dependence on the overall market correction, both market capitalization and trading volume have increased simultaneously. This phenomenon reflects a positive signal for a structural shift in the market:
Recovery of Risk Appetite: Traders are returning to focus on the more volatile altcoins, indicating a rising risk appetite in the market and a shift in investment sentiment towards positivity.
