Bitcoin (BTC), which showed an incredible increase after the announcement of the US inflation data, can continue its steady rise.
BTC, which came to $ 26,390 from $ 19,550 in the recent period, increased by approximately 35 percent. The leader of the crypto industry has collected incredible volume with this sharp rise. BTC, which experienced a price drop due to the effect of FUD news last weekend, is currently hovering above $ 24,000.
Could BTC, which has shown such a rise, be creating its own bull season?
Bitcoin (BTC) Chart Analysis
BTC, which instantly fell to the level of $ 19,560 with the chain of FUD news, seems to have completely gained strength. BTC, which went on the attack at the level of $ 19,560, has resurrected the crypto market for now. In order to talk about possible rises in the crypto sector, BTC can be watched to “permanently exceed” $ 25,250. In the scenario where possible FUD news continues, it seems likely that BTC will drop to the level of $ 24,200.
Market Value Analysis for Bitcoin
With the sudden rise of the crypto market, harsh pricing was also seen for the BTC market cap. BTC is currently hovering above the $467 billion market cap. In order for the BTC market value to move upwards, it is of great importance that it permanently exceeds the market value of 481 billion dollars. In the possible market value decrease scenario, the level of 452 billion dollars can be followed as support.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, which has experienced a voluminous rise in price, seems to have exploded by breaking the falling trend at the dominance level. BTC, which received a reaction from approximately 46.19 percent dominance level, may decrease on the side of altcoins as it exceeds 45.55 percent dominance level. The relaxation process of the BTC dominance level to 44.85 percent can be followed in order to create bullish movements on the altcoins side.
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