Bitcoin Resilient as Altcoins Plummet Amid Market Pullback
Bitcoin remains strong in its bullish trend despite some altcoins experiencing a dip. According to Kitco, BTC has maintained its position above the daily TBO Cloud and the Slow line is still rising, albeit less sharply. This suggests that a touch of the Fast line could produce the next bounce, which happened three weeks ago.
If this bounce does not occur, the lower fallback would be around $70,000 at the Slow line, currently at $70,808. However, this scenario is conditional and not a base-case prediction. On Monday, BTC closed down 1.15%, while many altcoins fell more than 10%.
The combined stablecoin dominance index is showing signs of bouncing towards its Fast line at 9.353%, about 2% above the current level. This move is viewed as a short-term opportunity, not a macro reversal. The Slow line points down more sharply than it did three weeks ago, indicating that the macro trend remains bearish.
The dominance index for altcoins can dip without affecting the broader market opportunity. If OTHERS.D, which represents altcoin dominance, retracts to its Fast line, it would be viewed as another buy-the-dip opportunity, similar to three weeks ago.
Broader market-cap charts remain strong while a pullback develops. The Crypto Total Market Cap Excluding Top 50 chart still looks very bullish and any pullback to the Fast line would be seen as a buy-the-dip moment.