Crypto News In A Nutshell
The global crypto market cap now stands at $4.19 trillion, up 1.9% in the last 24 hours.
Despite these geopolitical developments, crypto markets remain relatively muted to this development. Bitcoin has held above the $115,000 level, while altcoins are also trading in green – even leading to increased calls for the start of “Altcoin season”.
Investor Ted notes that the U.S. markets are hitting new highs across the board with gold, stocks and even global money supply (M2) are all at record level, while the national debt continues to climb. Bitcoin is also just 7% away from its all-time high. Yet, the U.S inflation remains at 2.9%, far above the Fed target.
Is This The Start of a New Cycle?
According to Coinmarketcap, Bitcoin dominance has dropped to around 56.6%, while Ethereum has climbed to 13.9% and other altcoins now make up 29.5% of the market. This clear rotation of funds away from Bitcoin into altcoins has caught the attention of traders and analysts alike.
Short-Term Targets For Bitcoin:
– $117,416 Buyside Liquidity Pool
– $118,931 Daily Order Block
– $124,533 All-Time Highs
