#Bitcoin $BTC

Bitcoin Rejected At 70k — Altcoins Holding Strong!

A couple of days ago, I posted the chart below, discussing my view that Bitcoin had reached its dominance peak in April and would not go higher.

Recent developments have shown that I was wrong about this expectation. Bitcoin soared to a dominance of almost 57% and closed at that level. Therefore, the chart below was invalidated at this time.

However, today provided some interesting insights. Although Bitcoin was massively rejected at 70k and was down almost 5% from today's top, many altcoins didn't follow. Conversely, many altcoins are still in the green and jumped 5% or more.

Even Ethereum (so far) has been able to hold above the 3.3k level.

Probably nothing. Or probably a first sign that altcoins will finally leave their bottom regarding their Bitcoin pairs. The next days will tell.

$BTC