Bitcoin is on the verge of ending the downtrend that began in mid-March 2024, confirming the bullish signal. Now, to continue the upward movement, it is important to consolidate above 68.000$ and overcome the accumulation of sell orders located in the range from $ 68,500 to $ 70,000. I am sure that there will be a lot of profit-taking between the current price and the ATH of BTC, so a local correction is possible.

Globally, large players are absolutely confident in the long-term growth of the BTC price and this is visible on the chart. Whales with balances of 1000 BTC have been actively increasing their balances for six months. During the sideways movement, they bought up $ 132 billion worth of bitcoin.

Bitcoin dominance has grown to 58.9% - the maximum since March 2021. The Bitcoin dominance chart shows signs of bearish divergence, giving altcoins a chance to breakout.