📈 Market Brief
$BTC BTC: $67,254
$ETH ETH: $2,614
Fear/Greed Index: 73 (greed)
BTC.D (Bitcoin Dominance): 58.77%
🤘 Yesterday's market swings were a sight to behold. I haven't seen such 4h candles for a long time - they shaved off both longs and shorts, and it seems even those who were not in trades at all. The market is very manipulative and unpredictable now, but I still see the exit to 70k as the target for the coming days. Yesterday we received a very strong reaction from the 67-68k area, but today we are gradually passing this zone.
😳 What worries me is that Bitcoin dominance has reached a three-year high of 58.77%. So any Bitcoin movement (especially downside) will have a huge impact on the alts. Also, I don't see any reason for dominance to get weaker yet.
Please throw me some reactions if you are interested in what this "Bitcoin dominance" indicator is and why it affects the market.
Thank you 😁