Bitcoin is currently trading within a well -specific range, as it fluctuates between its highest level ever, which is $ 109,000 and a civilian range of about 89 thousand dollars. The market is still very volatile, with uncertainty dominating feelings as traders await a decisive outbreak. Bulleins and bears are struggled for control, and the next step for Bitcoin has set the tone for the broader market in the coming months.
Despite the uncertainty, Bitcoin continues to consolidate its dominance on altcoins. The main data from Glassnode reveals that since the market bottom 2022, the maximum BTC 5.3X market has risen, increasing from $ 363 billion to $ 1.93 trillion. By comparison, Altcoin market expanded at a slower pace, increasing 4.7X to $ 892 billion. This difference emphasizes the growing attractiveness of BTC as leading assets in the encryption market, especially in times of economic and geopolitical instability.
Due to the uniformity of Bitcoin within this main trading range, investors closely monitor whether to restore momentum to the height of another leg or if other negative risks remain. The collapse of more than $ 109,000 may push BTC to the discovery of prices with the loss of support of $ 89,000 may lead to a deeper correction. Currently, all eyes remain on Bitcoin’s ability to stick to its land and determine the next main direction.
Bitcoin outperformed Altcoins: What does this mean
Bitcoin is currently trading in medium -range levels, and no clear direction appears as Bulls struggles to restore control while Bears lacks strength to push prices to a decrease. The market has been unified since late December, as BTC ranges from its highest level ever at 109 thousand dollars and the main support at 89 thousand dollars. This lengthy side movement has thwarted investors, who are eagerly awaiting a decisive step.
The main data from Glassnode It reveals that since the market market decreased 2022, the maximum Bitcoin 5.3X market has risen, as it rose from $ 363 billion to $ 1.93 trillion. Meanwhile, Altcoin market grew at a slower pace, as it increased only 4.7X to $ 892 billion. This contradiction highlights Bitcoin’s dominance in the current cycle, as the capital flows significantly to BTC while Altcoins continues to be weak.
This data indicates that investors have a priority for bitcoin as a safer bet amid total economic uncertainty, commercial war fears, and market fluctuation. However, this also creates a problem for Altcoins, because their inability to keep up with Bitcoin is frustrated by merchants. Many expect Altseason to follow the strong BTC performance, but instead, Altcoins struggled, causing more fear in the market.
Since Bitcoin is still stuck in this range, investors monitor an outbreak of more than $ 109,000 to confirm more upward trend. Meanwhile, the loss of the support zone from 96 thousand dollars may lead to 98 thousand dollars to another decrease of about 90 thousand dollars, which prolongs uncertainty.
BTC Eyes of the main resistance levels
Bitcoin is trading at $ 97,900 and seems ready to pay over the main supply levels. The price has been unified for several days, and the market is still very volatile as investors expect the next big step. If BTC is able to restore 98 thousand dollars and 100 thousand dollars and convert it into support, it is possible that it will boost the bullish momentum, which paves the way for a possible penetration.
However, failure to break these levels can lead to a decrease in low demand areas, with the next major support sitting around the mark of 96 thousand dollars. The deepest correction can push BTC towards a 90,000 dollar area, which extends the current monotheism.
On the upper side, if Bitcoin succeeds in penetrating the resistance of $ 100,000, it may quickly return to the highest range and test unknown lands near the high levels at all. The market is closely monitored for a crucial step, because any outbreak or collapse of the current levels will determine the direction of BTC in the short term
Distinctive image from Dall-E, the tradingView graph
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