Based on the Latest Data
1. Market capitalization of Bitcoin: 56.75% (+1.59%)
→ BTC Dominance is increasing, with capital focusing on Bitcoin, putting significant pressure on Altcoins.
2. Fear and Greed Index: 81 (Extreme Greed)
→ Market sentiment is overly optimistic, making corrections likely when FOMO is high.
3. Funding rate:
• Binance BTC/USDT Funding Rate: 0.0100% (+0.00%)
→ The market remains balanced, with no signs of excessive leverage.
4. BTC balance on exchanges: 2.23M BTC (-0.51%)
→ Bitcoin outflows from exchanges, a positive sign as investors transfer BTC to cold wallets.
5. Total liquidations in 24h: 655.99M USD (+94.12%)
→ Liquidation volume has surged, primarily due to Long orders being wiped out by significant price fluctuations.
6. 24h trading volume: 346.60B USD (+37.40%)
→ The market is experiencing significant volatility.
7. Long/Short ratio:
• Binance: 1.2 (+75.51%)
• OKX: 1.19 (+74.49%)
→ Long positions are dominant, but caution is needed as the market may adjust.
2. Data Analysis
• BTC Dominance is rising sharply to 56.75%, indicating:
• Capital is prioritizing Bitcoin over Altcoins.
• Altcoins are under heavy selling pressure in the short term.
• Extreme Greed Index (81):
• The market is prone to corrections as FOMO spreads and leverage is excessive.
• Funding Rate (0.01%):
• The market remains balanced in terms of leverage, with no sign of being overextended.
• Total liquidations surged (+94.12%):
• Long orders are being liquidated due to sharp price declines, leading to increased liquidations in the past 24 hours.
3. Current Market Trends
• Bitcoin: Maintains a dominant role with increasing dominance. BTC price may hold around the main support level if trading volume remains high.
• Altcoins:
• May continue to decline due to increasing BTC Dominance and overheating market sentiment.
• Altcoins like NEAR, FIL, THETA, FTM are under strong pressure.
4. Action Recommendations
1. Bitcoin (BTC):
• Watch the support range of $103,000 - $105,000. If maintained, a BUY order may be opened with a short-term target.
• If BTC breaks support, be cautious about the potential for a deep decline.
2. Altcoins:
• HOLD or be cautious with Long orders due to ongoing downward pressure.
• Wait for clear signals at strong support levels.
3. Risk management:
• The market is highly volatile, prioritize tight stop-losses.
• Avoid FOMO when the Extreme Greed index is high.
5. Conclusion
• BTC remains the priority choice as capital flows into Bitcoin.
• Altcoins are under pressure from BTC Dominance and significant liquidations.
• Investors should monitor important support levels and avoid hasty decisions during this volatile market phase.
