Emergency! Bitcoin is at $84K – Is it going to $90K or it’s a false breakout?
Rates are rising 📈
Whales are buying 🐋
Altcoins are still down… for now 👀
Is it the final charge up or is there a trap ahead? 🤔
#Bitcoin #Crypto #BullRun2024 Altseason & Whale Activity
Is it real or is it a whale trap? 🧵
1/ The crypto market is currently in a critical position. Spikes in bitcoin dominance are usually followed by a rise in the prices of altcoins. Get ready for the big altcoin rally? Here’s the breakdown. 👇
2/ Bitcoin dominance is 54.5% 🟢 (according to history, the market moves to altseason when bitcoin dominance decreases).
3/ The whale activity is changing – the recent on-chain activities indicate:
🔹 Increased activities in large ETH and SOL transactions.
🔹 Major altcoin wallets are gearing up LINK, ARB, and AVAX.
🔹 Smart money leaving BTC for alts.
4/ The funding rates are increasing, which means that leverage traders are positive, but is this a trap? 🚨
5/ Key Levels to Watch:
ETH: If it manages to climb above $4K, then it’s 🚀
#SOL: If it manages to surpass $150 then it’s good for the ATH?
#LINK: If it manages to touch $20 then it’s altseason?
6/ It is a known fact that altseason starts 2-4 weeks after BTC peaks. If BTC is now at $84K, it may be time to move into potent altcoins.