U.S. Industrial Production Month-on-Month for July

Factors influencing BTC dominance Changing trends Before the explosion of altcoins, it was not uncommon for bitcoin dominance to hover above 90%. As altcoins collectively gained more user and investor interest, bitcoin lost some of this almost undivided attention to other assets with greater price swings and projects boasting new exciting use cases. While bitcoin was created to change how the transfer of value worked, crypto projects have evolved to do more. Unlike bitcoin, many altcoins are involved in different sectors, including gaming, art, and decentralized financial services beyond transferring money. Depending on the current trend, there may be more interest and trading around a particular type of crypto project. For instance, the explosion of NFTs may have caused BTC dominance to drop somewhat in favor of NFT-related tokens. Over time, bitcoin has established itself as one of the more “stable” crypto assets. Traders’ interest in more dramatic price swings and associated profit opportunities that some newer altcoins offer can also affect bitcoin dominance, leading to funds flowing into riskier assets. In this case, the sectors these altcoins represent may not matter as much as the potential profits. Bull or bear market Over the last several years, there has been a general rise in the popularity of stablecoins, a trend that exerted sustained pressure on BTC dominance. More specifically, in a bear market or in times of volatility, stablecoins are often used to protect crypto investors’ funds amid falling prices. A stablecoin is an altcoin designed to maintain value equal to that of an asset with a more stable price, such as a fiat currency or commodity. Crypto investors and traders often use stablecoins to lock in profits without having to convert their crypto to fiat. When funds move out of the BTC market and into stablecoins, BTC dominance could go down. The inverse is likely in a bull market. When the market is up, traders can be incentivized to move value from stablecoins into more volatile assets that offer more trading opportunities, like bitcoin. However, emboldened traders may also choose riskier options and pump liquidity into altcoins that are even more volatile than BTC, so the overall effects of favorable market conditions on bitcoin dominance are highly context-dependent. On-ramping via stablecoins Stablecoins offer a convenient way to access a wide variety of cryptocurrencies compared to using fiat. This is because while there are fiat-to-crypto exchanges called gateway exchanges, they can be restrictive and only offer the more popular cryptocurrencies and stablecoins. Crypto-to-crypto exchanges, however, often provide a more comprehensive selection of cryptocurrencies tradable with select stablecoins. Hence, people who want to trade specific cryptocurrencies may enter the market via stablecoins. Naturally, if a significant amount of new funds enter the market through stablecoins and not bitcoin, the total value of the crypto market increases, causing a dilution in BTC dominance. Emergence of new coins Sometimes, new coins that enter the market can gain popularity quickly, causing BTC dominance to decrease. Remember that bitcoin is “fighting” with every other cryptocurrency in the market, so the emergence of several popular altcoins at once may affect it. However, there’s a chance that these altcoins may lose popularity after the hype dies down. If that happens and funds are moved from these altcoins to BTC or out of the crypto market entirely, BTC dominance may rise again.

US DOLLAR ANALYSIS The US dollar is currently moving within a symmetrical triangle pattern. The price is contained within the Ichimoku cloud, indicating a period of indecision in the market. A definitive breakout of the triangle would confirm a bullish trend, whereas a rejection would suggest continued consolidation within the triangle. It's important to note that the US dollar often exhibits an inverse relationship with the crypto market. #imcooladi4u# #ContentStar#

BITCOIN PRICE UPDATE BTC IS FORMING A MASSIVE INVERSE HEAD AND SHOULDER FORMATION ON THE WEEKLY TIMEFRAME.    THIS COULD TAKE A FEW MONTHS BEFORE A MAJOR BREAKOUT    DURING THE CONSOLIDATION PHASE, BTC WILL TRADE BETWEEN $56K AND $76K   A WEEKLY CLOSE ABOVE $76K WILL CONFIRM THE BREAKOUT, PUSHING BTC TOWARDS $100K

#Bitcoin    will continue higher ? If you've been paying attention to USDT.D, you're likely aware of the inverse correlation between USDT.D and BTC. If you look at the chart below, USDT.D has broken down of a strong trendline support and is currently testing a horizontal resistance line, while BTC is consolidating near its all-time high. If this is a bearish retest on USDT.D, it will get rejected here and continue downward. Consequently, we can expect a massive leg up in BTC, sending it to a new ATH and into price discovery mode.

#Bitcoin PUMPING 🚀📈 This Inverse Bart Simpson pattern is unfolding for $BTC after horizontal price action