#BTC.D Dominance is Finally Seeing a Rejection!
The upcoming weekly close will be critical for ALTCOINS.
The rejection looks good and it's important for BTC to stay stable for the altcoins to pump.
The weekend is here and you don't decide on a trend on the weekend, you must wait for a weekly close and how traditional markets open.
So more clarity will be seen on Monday.

Is this the start of the altcoin rally you've been waiting for?
Or is there more pain ahead?
The answers will reveal themselves soon.

So make sure you follow me on all socials.
More updates will be posted on confirmation!

I’ve shared 13 altcoins on request in my TG, and they’re already up 10%-25% in the last 4 hours.

Also, do not forget to hit that like button and share your views in the comment section.

Thank you

#PEACE

The cryptocurrency market’s downturn can be attributed to several key factors, including regulatory concerns, macroeconomic conditions, technological issues, and market sentiment.
1. Regulatory Concerns:
Governments worldwide are increasingly scrutinizing the cryptocurrency market, introducing stringent regulations to curb illegal activities such as money laundering and fraud. For instance, the U.S. Securities and Exchange Commission (SEC) has been actively pursuing regulatory actions against certain crypto projects and exchanges, creating an atmosphere of uncertainty. China’s crackdown on crypto mining and trading activities has also significantly impacted the market, as it was once a major hub for these operations.
2. Macroeconomic Conditions:
The broader macroeconomic environment plays a crucial role in the performance of cryptocurrencies. Rising interest rates and inflation fears have prompted investors to shift towards safer assets, reducing their risk appetite for volatile investments like cryptocurrencies. Additionally, economic instability and geopolitical tensions can lead to a flight to safety, further diminishing interest in digital assets.
3. Technological Issues:
The inherent technological vulnerabilities within certain blockchain projects can lead to market instability. High-profile security breaches, hacking incidents, and technical glitches undermine investor confidence. For example, issues such as the Solana network’s outages or Ethereum’s scalability challenges can cause temporary or prolonged declines in their respective token prices.
4. Market Sentiment:
Cryptocurrency markets are heavily influenced by investor sentiment, which can be volatile. News events, social media trends, and influential personalities can sway market movements significantly. Negative news, such as major hacks, regulatory crackdowns, or bearish statements from influential figures, can trigger panic selling, driving prices down.
Conclusion:
The downturn in the cryptocurrency market is a multifaceted phenomenon influenced by regulatory actions, macroeconomic factors, technological challenges, and market sentiment. While the market remains volatile, these factors contribute to both short-term fluctuations and long-term trends, shaping the future landscape of digital assets. #MarketDownturn #Cryptocurrencies #BearishAlert #BullishOnMe #peace $BTC $ETH $BNB

$BTC daily candle closed at $66452 which is bullish in the short term.
It is likely to hit the 68K level. Once that target is reached, the price could push for a new all-time high. However, there’s also a chance of a quick retest at the 61K level—potentially forming a long wick followed by a sharp bounce.

Keep this scenario in mind and remember, Bitcoin is still trading below resistance.

Trade carefully.

Cheers!

Do hit that like button if you like it and share your views in the comment section.

Thank you

#peace