Althought market is illiquid, there is an increase on the open interest while funding rate is going down. And all these things happen and the price is still in same price.
Not leading any rallies and ETHBTC remains weak for the most part - Even with ETHE outflows coming to an end, no strong spot flows yet - Holding key S/R + HVN, no real resistance above till ~2900 - Think low volume weekend range and chop and if SPX curls up again on weekly open, we might just pump to 2900? - ETH loves this sideways excruciating chop before randomly outperforming all other majors out of the blue; so not sure if that move to 2900 could mark the top of current move up from sub 50k but willing to bet on it if we get some LTF triggers early next week
The slight rise in the Altcoin dominance continues, friends. We mentioned that these are the bottoms. It is progressing with a nice reaction. If Bitcoin allows, we can see nice separations in the Alts in the coming days.
#OTHERS.D altcoin dominance is at the lowest point it can reach in my opinion, any further oscillation from here will destroy everything and make investors lose. For now, their aim is to overwhelm people and make them give up, but my advice is to be a little more patient, good days are coming soon.
Most small investors are opening short positions at the bottom levels, the panic continues. Don't do it, this market will swallow you, don't chase shorts from the bottom.
Futures data confirms the rise, technical confirmation is above 56.5, or even if we can close above 57 with this trend, we will get approval. For macro approval, we need to see the statements to be made by the FED and the US stock markets. If there is no recession panic, we are fine.
Bitcoin dominance could not close the day even though it rose above the resistance. These are the peaks. Even though BTC cannot rise above 55K today, it is very important for it to make its moves until the weekly close and rise above 55.5k. They are currently doing the maximum torture that can be done while the dominance is at the top. There is talk of the possibility of an Iranian attack, we need to be careful in the markets these days because only news is being priced in.
The market is not affected by the Israel-Iran war. The investor got used to this, but the new negative data and the Japanese interest rate cut after years sparked this fear. Spot continues, but it may be nice to try small long exposures from here.
The Japanese interest rate hike and this created great pressure because it was unexpected for them. They got money for free and invested, so they were a little excited because they were not used to it. The senile Biden at the head of the US could not manage the money economy properly and was late, this decline in the market may continue, but it should see 60k, not from these levels.