Bitcoin | Weekly Timeframe

Let’s start with the most important figure on the chart:

$93,700

For Bitcoin, this level plays a role very similar to the $3.15T mark for the TOTAL market cap index.

In other words, the market has room to rally up to this point, but hitting the $93.7K level is a moment where we must closely monitor the price action;

because if Bitcoin gets rejected at this zone, it could seriously jeopardize the entire recent uptrend.

But why do the Bitcoin and TOTAL charts look so similar?

Because Bitcoin’s dominance is hovering around 60%.

This means Bitcoin accounts for approximately 60% of the total cryptocurrency market value;

so, when Bitcoin makes a major move, it is natural for the TOTAL index to mirror that structure.

That is why:

$3.15T

(on the TOTAL index)

and

$93.7K

(on BTC)

are two levels that must be viewed in conjunction.

This is precisely the point that could determine the direction of the market's next phase.