Summary
- It was reported that Bitcoin (BTC) has broken below the short-term trend bottom, leading to a correction.
- It was stated that altcoin investors might feel fear due to the rise in Bitcoin dominance.
- On the other hand, it was added that in the latter part of the upward cycle, the rise will be significant and the correction period short.
Bitcoin (BTC) has broken below its short-term trend bottom, leading to a correction, according to some opinions.
On the 20th, Dan, an analyst at the on-chain analysis platform CryptoQuant, explained, "Bitcoin has broken below its short-term trend bottom and is undergoing a correction. The short-term overheating is gradually cooling down, and it is necessary to observe how much of a rebound occurs after the correction."
He added, "Currently, Bitcoin dominance is rising, which may cause fear among altcoin investors, but as we move towards the latter part of the upward cycle, the rise is significant and the correction period is short. It doesn't seem likely that there will be a prolonged period of frustrating movements."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
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