Confluence with market data ~ aggressive short squeeze & covering Strong spot bid as well, want to see LTF dips bought by spot pic.twitter.com/XrwJpM6XOV— Skew Δ (@52kskew) July 14, 2023
“Bitcoin failed to breakout overnight and could be falling back into the range here,” popular trader Jelle wrote in his latest social media update.“Waiting to see how this 4h candle turns out, but bulls have some work to do. A bit of a push, and we can have a lot of fun this weekend.”Fellow trader Crypto Tony voiced frustration at the lack of a clear breakout from Bitcoin’s long-established trading range.“Rejecting from the range high so no entry for us to just yet on Bitcoin .. Waiting for a solid flip before we get into this,” he told Twitter followers, adding that he “would be disappointed if BTC doesn’t flip.”BTC/USD annotated chart. Source: Crypto Tony/TwitterAltcoins now due “mega-run”XRP staging a comeback meanwhile formed the background to a snap drop in Bitcoin market cap dominance.Bitcoin market cap dominance chart. Source: TradingViewRelated: Will Bitcoin catch up? BTC price was $40K when the dollar was previously this weakThe largest cryptocurrency previously constituted almost 52% of the total, dropping below 50% overnight to near one-month lows.That did not take long.Let’s see how $ALTS do once everything settles down a bit. https://t.co/ABBGid4MWL pic.twitter.com/VhRUHqgL9O— Daan Crypto Trades (@DaanCrypto) July 13, 2023
Traders had already hoped that Bitcoin would cool its increasing dominance presence to allow altcoin markets to make gains of their own as part of a broader crypto bull market.“Good things come to those who wait,” trader Moustache summarized on the day, predicting that the altcoin boom would still go ahead.#AltcoinsAltcoins are preparing for a mega-run imo.I’ve been sharing this chart for a few months now and everything is going according to plan. It’s just a waiting game.Good things come to those who wait. https://t.co/OM2dKtbENW pic.twitter.com/DkasZSkE3t— ⓗ (@el_crypto_prof) July 14, 2023
Magazine: Should you ‘orange pill’ children? The case for Bitcoin kids booksThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.