📉 Correction in the Crypto Market: Good Consolidation? After Bitcoin's 28% eight-day gain sent the market into overbought territory, the cryptocurrency market dropped 2.06% to $2.65T in a single day. Selling pressure was increased by protracted liquidations and profit-taking. The dominance of Bitcoin increased to 59.82%, indicating a shift in capital from other cryptocurrencies to Bitcoin. Uncertainty in regulations is another issue. 🔑 Important levels: $83K resistance and $78K support. While a collapse might pave the path for a $2.47T total market cap, holding $78K could rekindle positive momentum toward $83K. Further consolidation is possible when the RSI is close to 88. The next move may be influenced by institutional ETF flows and Nvidia's August 27 earnings. Overall: Bulls need to defend $78K, but there is a healthy correction.@Binance Square Official @Binance Labs $BTC $ETH $BNB