As we reported
Kriptokoin.com, demand for retracement of higher levels is ending the week as traditional markets make up for their losses. According to analysts, Bitcoin (BTC) is holding $40,000 in play at the Wall Street opening on February 25 after significant daily gains boosted bulls’ confidence.
“Whales at the beginning of pricing BTC towards $40,000”
Data from TradingView showed BTC surrounding the $39,000 mark at the start of trading on Feb. It didn’t cause a big sale. Signals from the Russia-Ukraine conflict provided additional support, with the possibility of Ukrainian president Volodymyr Zelensky to bring up negotiations to end hostilities.
With $34,300 this week, optimism is slowly building up in a rematch with $40,000 resistance. Tracking resource Material Indicators points to a chart that shows a recent flow of purchases from both small and large investors:
Historically, this class has had the most direct correlation to Bitcoin price. If BTC bulls can break past $41.5K, $45,000 could come into focus pretty quickly.
Binance orderbook chart / Source: Material Indicators / Twitter Meanwhile, popular trader and analyst Pentoshi announced that he plans to wait for BTC to drop to $40,000 before reducing his risk.
However, as it indicates on longer timeframes, BTC price action There was no general change in the paradigm that continued to adhere to a strict range.
Rekt Capital: Bitcoin dominance rises further
Altcoins have moved step-by-step with Bitcoin, providing some relief for distressed purse holders. Ten percent daily gains were usual, with the top ten cryptocurrencies by market cap led by Terra (LUNA), which rose 20% on the day to $65.40.
Ethereum (ETH) is still hovering around $2,700, down 5.7% from the same period last week. Trader and analyst Rekt Capital interprets a chart of Bitcoin’s market cap against altcoins as follows:
This upward move to the red level could extend into early March, but dominance still has more upside .
Bitcoin dominance explanatory chart / Source: Rekt Capital/ Twitter 
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