
The post Altcoins Suffer Extreme Losses as Bitcoin Nears Crucial Juncture-Will BTC Price Make It or Break It? appeared first on Coinpedia Fintech News
Bitcoin trades under a bearish influence as Asian markets begin to carry the uncertainties prevailing within the US market. The price is currently trading at $26,087.24, a drop of 3.96% compared to the previous day’s close. Market participants continue to carefully observe the macroeconomic conditions that have bedeviled the crypto space in recent times.
Moreover, the FOMC minutes have shown a difference of opinion among the U.S. central bankers about further rate hikes, which may mitigate the crypto space ahead.
Following the star crypto, the altcoins remain bewildered as they continue to lose gains for the third consecutive day. Besides, the BTC dominance is also testing the crucial resistance that it has been failing to surpass for the past couple of years. If the price clears this resistance, altcoins may begin to bleed.

The BTC dominance has been ranging between 40% and 50% for over two years. Currently, the levels remain stuck below the 50% resistance, and despite constant rejection, the dominance hovers close to the levels. Therefore, if the levels break above the resistance beyond 50% in the coming weeks, the altcoin market may suffer a huge downtrend for an extended period.
The Bitcoin price, with the fresh bearish action, has dropped below the lower trend line within an ascending triangle. Therefore, the price may, however, maintain a sluggish price action for an extended period. Until then, the altcoins may also trade sideways, waiting for a major event to push the prices higher.
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks