Bitcoin is growing and has already consolidated above 68500, now its price is above 69K. And the local maximum was at 69399.
Bitcoin has not been at this level since June 12. The reason is the anticipation of Trump's speech at the conference today. I talked about possible scenarios in yesterday’s post. Trump's expected speech time is 21-00 Moscow time
Even if it does not live up to expectations and there is a spill, this does not change the medium-term prospects of Bitcoin. And in the short term there is less and less time left before their implementation.
We will look at the factors of growth and decline for the coming week tomorrow.
Alts are growing, but are still lagging behind Bitcoin. Dominance index 56.71% with capitalization 2.41 trillion. This is the maximum of the dominance index since spring 2021.
The reason is clear - market participants are waiting for what will happen to Bitcoin after the conference. And if it does not at least fall below 68500, the alts will go to catch up.
From the news.
- Franklin Templeton, a $1.5 trillion wealth manager, is set to launch a Bitcoin ETF in Japan
- In a speech by a BlackRock representative at the conference, it was said that clients were very interested in Bitcoin ETFs, and also that BlackRock clients were only interested in Bitcoin, and, to a lesser extent, Ether. And the rest of the alts are of no interest.
So, there won't be an altseason?
Will. BlackRock managed without clients in the past, and we can cope now. Let Bitcoin accelerate, market cycles and the FOMO of those who spent too much time wondering whether to buy Bitcoin or wait for it to fall will do the rest.
- I’ve already written about market cycles. I just wrote before the last bull run, when Bitcoin was growing, and alts were standing still, and everyone doubted whether there would be an altseason.
Then it took place. It will happen now.
Have a nice day and profit everyone. And yes, we are waiting for good news from the conference 😉
