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General Crypto Market and BTC Effect
There are declines in the general crypto market, and this is closely related to Bitcoin (BTC) price movements.
* General Decline: BTC has fallen by 1.87% to 2.68% in the last 24 hours, altcoins are also experiencing similar declines.
* BTC's Decisiveness: Bitcoin's recovery can generally increase investor confidence in the entire crypto market, bringing the uptrend back. Altcoins usually follow BTC.
* Corrections are Normal: Crypto markets are volatile; corrections are expected after increases.
* Reasons for the Decline (Summary): Macroeconomic factors such as inflation, interest rates, regulatory uncertainties, and institutional investor behavior affect the market.
* Uptrend and BTC: When BTC shows a strong recovery, market confidence comes, and then altcoin season usually begins.
After a strong pump and breaking through the monthly key point, today's close ( monthly ) needs to maintain this trend.
Reached 68 dollars and backtested the monthly numbers 46.6 - 41.40
46.6 is the monthly support
41.4 is the weekly/monthly support
It would be great if it can stay above 51 dollars
At least, it needs to hold above 46.6 dollars.
After a strong pump and breaking through the monthly key point, today's closing ( monthly ) needs to maintain this trend.
Reached $68 and retested the monthly levels 46.6 - 41.40
46.6 is the monthly support
41.4 is the weekly/monthly support
It would be great if it can maintain at $51
At least it should stay above $46.6