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The S&P, Bitcoin Dominance, and a Brewing Altcoin Setup – Here’s What’s at Stake


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Bitcoin Dominance Nears 66% as Traders Watch Next Big Level
  • Bitcoin dominance pauses at Fibonacci levels, targeting 66% soon.
  • Ethereum’s fair value and altcoin rally depend on conditions.
  • Bitcoin’s price may reach $120K-$170K if macroeconomic conditions stay stable.

Right now, one of the biggest things traders are watching is Bitcoin dominance, and how it’s moving through some pretty familiar patterns. Bitcoin dominance seems to follow certain patterns, especially when it hits key Fibonacci levels. 

When it reaches these levels, it usually pauses for a bit before continuing to rise. The next target could be around 66%, which lines up with a trend seen in Bitcoin pairs.  

Analyst Benjamin Cowen believes this could be a short-term goal and might even represent the peak of the cycle. 

Source: TradingView

Bitcoin, Stablecoins, and Why the Next Move Could Be Big

He also tracks a metric that combines Bitcoin dominance with USDT and USDC dominance. In the last cycle, this metric peaked at 75%, and it could do the same this time. 

He believes once quantitative tightening winds down, we’ll probably see a big shift across the crypto market. Until then, Bitcoin’s dominance could keep climbing, leaving alt…

The post The S&P, Bitcoin Dominance, and a Brewing Altcoin Setup – Here’s What’s at Stake appeared first on Coin Edition.

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The S&P, Bitcoin Dominance, and a Brewing Altcoin Setup – Here’s What’s at Stake


Coin Edition
для CoinEdition

Поделиться:

Bitcoin Dominance Nears 66% as Traders Watch Next Big Level
  • Bitcoin dominance pauses at Fibonacci levels, targeting 66% soon.
  • Ethereum’s fair value and altcoin rally depend on conditions.
  • Bitcoin’s price may reach $120K-$170K if macroeconomic conditions stay stable.

Right now, one of the biggest things traders are watching is Bitcoin dominance, and how it’s moving through some pretty familiar patterns. Bitcoin dominance seems to follow certain patterns, especially when it hits key Fibonacci levels. 

When it reaches these levels, it usually pauses for a bit before continuing to rise. The next target could be around 66%, which lines up with a trend seen in Bitcoin pairs.  

Analyst Benjamin Cowen believes this could be a short-term goal and might even represent the peak of the cycle. 

Source: TradingView

Bitcoin, Stablecoins, and Why the Next Move Could Be Big

He also tracks a metric that combines Bitcoin dominance with USDT and USDC dominance. In the last cycle, this metric peaked at 75%, and it could do the same this time. 

He believes once quantitative tightening winds down, we’ll probably see a big shift across the crypto market. Until then, Bitcoin’s dominance could keep climbing, leaving alt…

The post The S&P, Bitcoin Dominance, and a Brewing Altcoin Setup – Here’s What’s at Stake appeared first on Coin Edition.

Читать материал на CoinEdition

В этой новости

Монеты

$ 85.47K

-0.79%

$ 2.83K

-0.10%

$ 0.99952

-0.02%

$ 0.0000824


Поделиться:

В этой новости

Монеты

$ 85.47K

-0.79%

$ 2.83K

-0.10%

$ 0.99952

-0.02%

$ 0.0000824


Поделиться:

Читать больше

Crypto News: US Congress Gambles on Zero-Budget Task Force After Americans Hemorrhaged $10B to Scams

Crypto News: US Congress Gambles on Zero-Budget Task Force After Americans Hemorrhaged $10B to Scams

Key Insights: US Senator Jerry Moran made crypto news by introducing legislation that...
Crypto Market Prepares for Policy Shift As Trump Pushes Pardons

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Key Insights: The crypto market is weak today. Prices are down close to 2%. Bitcoin a...