With the Coinbase–BUSD crisis yesterday, the crypto money market was negatively affected, how is the Bitcoin (BTC) and crypto money market progressing today?
The BUSD crisis, which has marked the last time, flared up again with the statement made by the Coinbase crypto exchange last night. BTC, which has turned its direction up in recent days, has been greatly affected, especially by the statement made by the Coinbase exchange. Will BTC, which is targeting the $25,000 levels again, be able to continue on its way with the Fud news?
Bitcoin (BTC) Chart Analysis
Examining the 4-hour time frame for BTC technical analysis, it is observed that the $25,000 level has been tried in a row and faced another hard sell. In order to talk about the bullish scenario of BTC, priorities should be followed above the $ 23,600 level. If BTC manages to hold above this level, action at $24,400 should be observed. The possible bearish scenario is that if BTC does not find enough buyers at $ 23,340, a pullback to $ 22,630 can be experienced.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, which is still in the risky region in terms of price, has also come to take the risk for the dominance level. Receiving a reaction from approximately 43.75 percent dominance, BTC is at the support level for the current situation. With the 44 percent dominance level exceeded, decreases can be observed on the altcoins side. For a possible rise scenario on the altcoins side, the relaxation process of the BTC dominance level to 43.60 percent can be followed.
Market Value Analysis for Bitcoin
With the BTC price falling, decreases were also observed for the BTC market cap. Supported by the market value of $ 440 billion, BTC has again exceeded the market value of $ 448 billion. In order for the crypto market cap to continue on the uptrend, the BTC market cap can be followed to exceed $452 billion permanently. In a possible decline scenario, the market value of 440 billion dollars can work as support again.
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