Bitcoin is consolidating around $95K, building a strong base for a potential breakout above $100K. BTC dominance dropped to 56.7%, highlighting altcoin activity, with XRP surging 4X. Total market cap is $3.3T, signaling broad participation. Patience and monitoring dominance and volume shifts are crucial for traders eyeing the next moves.
Craig’s Market Recap
Bitcoin: Consolidating after hitting $98,711. It’s holding steady around $95K, but Craig highlights the potential for a continued consolidation phase, which could pave the way for a more robust run toward that psychologically critical $100,000 level.
A daily downtrend would only occur if Bitcoin dropped below $90,767, so we’re still in strong territory.
Dominance Decline: Bitcoin dominance has fallen sharply from 60.53% to 56.7%, signaling that alts are on the move. Great news for traders looking to capitalize on volatility outside of BTC and ETH.
Total Market Cap: Now at $3.3 trillion, with $1.44 trillion in alts and smaller-cap cryptos—a clear indication of broader market participation.
My Take
Craig nails the significance of Bitcoin's consolidation phase. A steady base here creates a healthy setup for breaking through $100K without an unsustainable spike-and-dump pattern. For traders, the decline in BTC dominance is a golden opportunity. Alts are stealing the spotlight, with XRP’s 4X rally over the past month exemplifying just how wild this market can get.
Patience is key here. A clean break above $100K after some consolidation would likely bring more sustainable growth and could lead to another altseason frenzy. If you’re trading, keep an eye on dominance and volume shifts—they’ll be your early indicators for the next big moves.
Great insights, Craig! Catch you later this week for more market updates.
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