BTC’s price might plummet to 61k before turning bullish.dominance started to increase in the last few days. The recent rise in Bitcoin dominance was not a result of a BTC bull rally but rather a consequence of altcoins turning bearish.
In fact, in the last 24 hours alone, BTC was down by 2%. At press time, it was trading at $62,369.67, with a market capitalization of over $1.22 trillion., also witnessed price corrections. Additionally, its net deposit on exchanges was also low compared to the last seven-day average. A look at CryptoQuant’sSource: CryptoQuant
As per our analysis, BTC’s Chaikin Money Flow registered an uptick and at press time had a value of 0.08.
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