Bitcoin (BTC), which is at the level of $ 22 thousand, continues to give warning signals for crypto investors.
With Powell’s speech yesterday, the risky process continues on the Bitcoin (BTC) side. BTC, which is at a critical level for the current situation, can determine the direction in line with any development. The chain of negative news led to sharp decreases on the BTC side, as the current situation, the decision to be made for the price of BTC, which is at the level of $ 22,000, is getting closer.
Bitcoin (BTC) Chart Analysis
Considering the 4-hour time frame on the BTC side, a persistent break above the $23,630 level is possible for the price to move higher. BTC, which is currently at a critical price, may experience decreases to $ 21,400 if it cannot find enough buyers in the crypto market. Affected by the Fud news in recent days, BTC has entered the decision-making process.
Market Value Analysis for Bitcoin
With the ongoing Fud news in the crypto market, big drops were also observed for the BTC market cap. BTC is hovering above the $420 billion market cap. In order for the BTC market value to take a bullish move, it can be expected to permanently exceed the $430 billion market cap. In the possible market value decrease scenario, the level of 417 billion dollars can be followed as support.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, which is in the critical area in price, is moving in risky areas for dominance level. Receiving a reaction from approximately 43.55 percent dominance level, BTC is likely to see decreases on the side of altcoins when 43.70 percent dominance level is exceeded. In order for a bullish route to be formed on the altcoins side, a relaxation process of the BTC dominance level to 43.40 percent can be followed.
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