Bitcoin price is stabilizing after a rally on Monday owing to the fake BTC ETF approval report. Since then, traders have become more bearish after los
Bitcoin price has historically retraced in the six months before the anticipated halving, setting the target at $20,000. Investors are highly bearish, awaiting a correction of the fake rally, with 51% of all open BTC futures positions going short. Bitcoin dominance shot up to 51.95%, the highest since April 2021 and last grazed by BTC in June, which suggests trouble for altcoins. ing more than $86 million in liquidations on Monday.
Bitcoin dominance This translates to trouble for altcoins since the altcoin season will be pushed further, leaving non-BTC investors facing losses. Technical Analysis: Bitcoin price to likely correct its recent rally Bitcoin price may have completed an exhaustion bar after retreating from the unexpected rise on Monday but it has so far failed to follow through lower. This could lead to further downside, however, so far bearish action has been tame and contained.
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