Two charts. One story.
This is the most important setup in crypto right now.$BTC
1) ETH/BTC is printing the same bear trap for the third time.$ETH
Break above 0.0320 and ETH starts outperforming Bitcoin.
Break below 0.0280 and new lows follow.
2) BTC Dominance.
BTC.D has been running sideways between 58% and 60% for the last 6 months.
First condition: Break above 60% and climb toward 63% to 64%. Institutions keep buying only Bitcoin. Alts bleed further. ETH/BTC breaks down.
Second condition: Break below 58% and money rotates from Bitcoin into ETH and alts. ETH/BTC breaks out of the triangle and alt season begins.
One level decides the next move for the entire crypto market.
58% or 60%. That is the only number that matters right now.
BTC
68,619.57
-2.81%
ETH
2,079.55
-3.54%