Hardly affected by the problems in the banking sector and the decline of stablecoins, Bitcoin (BTC) gathered strength and started to rise again.
The “banking problems” and “devaluation of stablecoins” that have plagued the crypto market in the past days seem to have settled down for now.
Bitcoin (BTC) Chart Analysis
BTC, which instantly fell to the level of $ 19,560 with the succession of FUD news, seems to have gathered strength to a large extent. BTC, which started to attack at the level of $ 19,560, has lifted the crypto market for now. In order to talk about possible upsides in the crypto market, BTC’s “permanently exceeding” $24,800 can be followed. In the condition that possible FUD news continues, BTC is likely to drop to the level of $ 23,880.
Market Value Analysis for Bitcoin
With the rise of the crypto market, sharp rises were seen for the BTC market value. BTC is currently hovering above the $467 billion market cap. In order for the BTC market value to move upwards, it can be followed that it permanently exceeds the market value of 481 billion dollars. In the possible market value decrease scenario, the level of 467 billion dollars can be followed as support.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, which has experienced a sharp rise in price, has also increased at the dominance level. Receiving a reaction from approximately 43.60 percent dominance level, decreases can be observed on the side of altcoins as BTC exceeds 45.55 percent dominance level. In order for a bullish trend to occur on the altcoins side, the relaxation process of the BTC dominance level to 44.91 percent can be followed.
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