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Published 8 months ago • 1 min read

Market Overview

The BTC weekly candle has bounced back and closed above $68,000.

=> There is still a feasible basis to test $70,000 - $73,000 in the short term (1-2 weeks).

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However, as BTC.D (Bitcoin Dominance) trends towards the 58-60% range, and ETH/BTC is at 0.047xx => The current situation is unfavorable for altcoins.

The liquidity of altcoins depends on MMs (Market Makers). If MM has not yet deposited stablecoins on exchanges, only BTC and ETH can likely continue to rise, while altcoins remain uncertain, showing weak recovery and lacking strong inflows of capital. Only a few altcoins might experience a slight rebound.

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