Shifts in Market Cap, Bitcoin's Path, and Rising Dominance
Please check the last 2 ideas about Total market cap and BTC price first. this is continuation on them.
The BTC dominance chart adds an intriguing perspective, showing an untested break below a significant support zone, suggesting BTC's market dominance could increase to 57%-60% in the short/medium term. This aligns with ongoing discussions about BTC's inclusion in ETFs, possibly lowering BTC prices to attract ETF investors and validate the inclusion of crypto in these funds.
Conclusion: In the short to medium term, we might witness a reduction in the overall crypto market cap and Bitcoin prices, potentially increasing BTC dominance. This aligns with the broader market strategy of preparing for multiple scenarios, ensuring readiness for any market movement.
Disclaimer: This analysis reflects my perspective and should not be the sole basis for your trading decisions. Always prioritise risk management and remember that trading involves risks.
The BTC dominance chart adds an intriguing perspective, showing an untested break below a significant support zone, suggesting BTC's market dominance could increase to 57%-60% in the short/medium term. This aligns with ongoing discussions about BTC's inclusion in ETFs, possibly lowering BTC prices to attract ETF investors and validate the inclusion of crypto in these funds.
Conclusion: In the short to medium term, we might witness a reduction in the overall crypto market cap and Bitcoin prices, potentially increasing BTC dominance. This aligns with the broader market strategy of preparing for multiple scenarios, ensuring readiness for any market movement.
Disclaimer: This analysis reflects my perspective and should not be the sole basis for your trading decisions. Always prioritise risk management and remember that trading involves risks.