Bitcoin Saves $70,000, What Should We Expect in the Cryptocurrency Market as the Halve Approaches?

In this new Crypto Point of the Weekend, like every Sunday, we’re going to do that The return of evolution Which is what cryptocurrencies have experienced in recent days. Since our last analysis, dt Two weeksAlthough we have not experienced any drastic changes in market conditions, it will be an opportunity to see if there are any signs. trends within the market and Threshold to monitor For the next few weeks.

The total capitalization of cryptocurrencies preserves the technical threshold

When the market remained above the established zone 2.4 trillion dollarsHowever the situation has rapidly developed with a downward shift, which we can call detourSince then A Bullish Reconsolidation Happened in the following days. This price action, testifying to buying power, now poses A question of mobility We will know in the next few weeks.

For the moment, as long as the market manages Maintain above 2,400 billionPossibility of making new highs with a return to later 2,800 billion Dollars are high. Obviously, this depends on the ability of buyers to save current threshold. More broadly, we can accept returns from the market 2,068 billion, A level we identified a few weeks ago. However, the following pass will confirm that Trend reversal on the decline. Ideally, the aim is to continue Formation of ascending troughs and ridges So that the upward trend does not weaken.

A more powerful dynamic on the altcoin side?

While the total market capitalization has not recovered yet The previous summitThis is partly explained by Delay Accumulated by Ethereum Compared to Bitcoin, moving to $70,000, however, the dynamics are different on the altcoin side. As you can see, the price is currently at its same level The previous summit, in early March. has taken place with the rebound Force 641 billion dollars, that is clear Buyer interest Towards altcoins for several months.

Currently, the Bias to be bullish Until we get back below $641 billion, what should we expect for the next few days, or even the next few weeks? Currently, altcoin is the target of capitalization Cross the technological threshold has $763 billion (Monthly Summit), which will allow altcoins to gradually move in the direction 837 and 936 billion dollars.

For now, the bias will remain bullish as long as altcoins save Base threshold And that, apparently, taking Bitcoin and Ethereum won’t spoil the party Road to recession. with the approach of halfVolatility is certain to rise in the coming days. In this context, what should we expect in relation to The reign of the king of cryptocurrencies ? We will see this in this A new part of the analysis.

Endless series for the king of cryptocurrencies

More than two weeks ago, when we analyzed the dominance of the king of cryptocurrencies, he a Daily series. Two weeks later, there is Bitcoin Not resolved yet Technical ranges developed between bullish or bearish 54.10% and 53.10%. with the pivot located at 53.60%Investors seem to be waiting for the halving to arrive.

This is a reference to the series on Bitcoin’s dominance with support thresholds maintained against the dollar Ideal environment for K altcoins can go up. The past few weeks have been interesting, with many altcoins able to record performances More than two digitsEspecially memecoins Which, for several months, benefited from a certain trend with additional liquidity in their sector.

For the moment, we have nothing special to add to Bitcoin dominance Awaiting technical resolution recession or boom. Ideally, a breakout of the range, followed by a move below the pivot shown in blue, would be ideal for Continuing the trend Which we are seeing on many altcoins. However, this should not prevent us from going short, considering that many altcoins are still outstanding weak Despite the weekly performance of Bitcoin and Ethereum and, more generally, for some altcoins it only takes a dip in these two major assets. fall fast

Ethereum in complete downtime

Bitcoin dominance is in full swing LateralizationThis happens turns again We can also conduct an analysis on the ETH/BTC pair. As mentioned in the analysis two weeks ago, we are very much ahead Long accumulation period Which, for the moment, does not lead to any resolution or buy/sell signal to pass our bitcoins to ethereum or vice versa. With the evolution of these two assets in series, this testifies Lack of volatility which they both register against the dollar.

As you’ve no doubt thought about, this also explains the strong trends we’ve been seeing for several weeks. memecoins As in dogfights, there is liquidity to pour Directly on these low capitalization assets, offer Best opportunities In the eyes of stakeholders. For the moment, we have nothing special to report as it is appropriate monitor threshold That we had occasion to mention in our earlier analysis.

Moreover, not to mention the capitalization of DeFi altcoins, the price is still evolving at the threshold that we studied in the latest analysis on this graph. So, it’s only fair show patienceA bullish exit from Ethereum is ideal in order Keep up with the boom in altcoins.

Here we are at the end of this crypto point of the market. Since our previous technical issue, the situation has been little developed Apart from the purchasing power currently enjoyed by Capitalization of altcoins, more than the total market capitalization. With the dominance of the king of cryptocurrencies in The complete range And one Timeout On the ETH/BTC pair, it’s worth it Take his troubles with patience and wait for the arrival of half To hope for volatility returns and ideally New heights In the cryptocurrency market, which will maintain a bullish bias on the current chart.