I think Bitcoin dominance has peaked this cycle. What about | Ben Walther on Binance Square

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I think Bitcoin dominance has peaked this cycle.
What about you?
Do you expect $BTC  dominance to decline from here and $ETH and other altcoins reach new ATH next?
Let me know 👇

Yes, BTC dominance will go🔻

52%

No, BTC will keep pushing 🆙

48%

645 votes • Voting closed

0 people tipped the creator.

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

BTC

60.553,98

-0.94%

ETH

2.343,78

-4.45%

11.5k

0

Replies 0

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Volume Surge Radar 🚀🚀 3rd October 2024 Similar to the day before, yesterday was driven by massive volatility and volume. Here are the top 10 tokens that saw the biggest volume increase compared to the day before. 1 - eCash $XEC +448% 2 - Aragon $ANT +365% 3 - Mainframe $MFT +343% 4 - Wormhole $W +297% 5 - Nem $XEM +201% 6 - Polymath $POLY +177% 7 - FUNToken $FUN +175% 8 - Cream $CREAM +172% 9 - Kava Lend $HARD +171% 10 - Flamingo Finance $FLM +165%

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Bitcoin — Consolidation or Further Correction? Volatility was king yesterday. While bulls were excited when BTC hit 62k, bears celebrated when Bitcoin briefly dipped below 60k. Ultimately, the daily candle closed almost exactly where it had opened. Today starts green again. However, it is still not time to celebrate from my point of view. Although the open interest rate saw a healthy decrease, there are still too many bearish signs. Therefore, I still think that a revisit of the middle trendline and a stronger dip below 60k is likely. Remember, the tensions in the Middle East are just heating up and will likely create more uncertainty before the market continues as normal. In addition, Bitcoin seems to print a bear flag on the hourly chart, which could trigger another leg down. The situation remains dangerous. While DCAing is always an option, I would be careful when entering (leveraged) longs too early!

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10 Tokens To Watch 🧐 When the market corrects, it creates a unique opportunity: The tokens that held their ground or even performed well during the chaos are usually the ones to watch for the recovery. Here are the top performers from the last 24 hours—these could be your leaders in the next market bounce. Definitely worth adding to your watch list. 👀 > CVC (Civic): +12.80% > W (Wormhole): +9.45% > CFX (Conflux): +9.44% > FLR (Flare): +8.89% > SUN (Sun ): +7.77% > UMA (UMA): +4.56% > OM (MANTRA): +4.30% > SUI (Sui): +4.00% > MANTA (Manta Network): +2.96% > ACH (Alchemy Pay): +2.04%

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Short-Term Outlook: Bearish 🚨 This is how it looks when the market turns bearish. More than 60 tokens printed a bearish MACD crossover on the daily chart (ETH, DOGE, TON, ADA, and many more). I think we will have the same amount (or more) when today's candle closes. Contrary to many market observers, I don't think the bottom is in yet. Actually, it is more than likely that we will visit the low 50s in the short term. Here's why: * The bullish chart setup was invalidated for many tokens * Middle East tension likely to grow and spread more uncertainty * Many technical indicators, such as the MACD or VMA, have turned bearish. This doesn't change the long-term outlook, which remains bullish. However, it looks like we have to go lower before coming back even stronger.

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Yesterday's sell-off flushed tons of leveraged positions. However, open interests are still relatively high and provide enough potential for another correction. This is definitely not the time to use leverage, anon.

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