#Bitcoin : $100M Sold by German Govt. 🦊
#AltcoinGains will Come ⁉️
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Bullish momentum; needs to break above $58,400 to confirm bullish trend.
- German Government: Sold a large amount of Bitcoin, a positive sign for the market.
- Market Structure: Awaiting breakout above $58,400 for confirmation of bullish trend.
1️⃣ Bitcoin:
- Current price above $56,700, an important level.
- Needs to break above $58,400 to rally higher and confirm bullish market structure.
- Dollar strength index is bearish, bullish for Bitcoin.
- German government sold over $100 million in Bitcoin to OTC desks, a positive sign.
2️⃣ Altcoins:
- Most altcoins follow Bitcoin, awaiting breakout.
- Some altcoins (e.g., $BONK , $WIF ) performing well, potential to rally higher.
- Other altcoins (e.g., W, Solana, meme coins) looking bullish.
3️⃣News and Events:
- Major economic news on Tuesday, Wednesday, and Thursday could impact the market.
- Federal Reserve speaking on Wednesday, important for the market.
4️⃣ Conclusion:
- Fundamentals becoming slightly more bullish; confirmation is key.
- Watch for Bitcoin breaking out above $58,400.
