Here is why I think the bottom is in :
We've seen a sharp drop, which might signal the bottom is near. Open Interest has reset from a high-risk 180K to a safer 160K, meaning leveraged positions have been cleared out, which is healthy. Funding rates have also dropped, indicating long positions are closing to balance the market.
BTC Dominance (BTC D.) spiked to 57.95%, close to a major reversal zone. Meanwhile, USDT Dominance (USDT D.) hit a strong resistance and spiked to 6.75% and rejects from there after surpassing 6.00%, a critical area to watch. ETH/BTC saw a big dip, closing gaps and indicating a potential altcoin market reversal.
Despite $BTC volatile price action ruining many setups, it’s also creating great opportunities. The fear in the market is at its peak, and the SP500 has corrected its imbalance. Robinhood even halted trading for 24 hours. This is a good time to start bidding, especially with more confirmations like exchange halts. Remember, mastering your fear can lead to significant profit.
