Key Points
- Bitcoin clings to the $65K support level as volatility resurfaces.
- Potential capital shift towards altcoins is speculated as BTC dominance falls.
The cryptocurrency Bitcoin (BTC) is showing signs of stress as it sticks to the $65K support level, causing unease in the market.
With the resurgence of volatility and cautionary momentum indicators, traders are scrutinizing the current trend. They are questioning whether it’s a mere healthy pullback or the onset of a more extensive capital shift.
Bitcoin Consolidation and Altcoin Season
As BTC is in a consolidation phase, the prospect of a late-year altcoin season is becoming increasingly plausible.
The importance of the $65K mark for Bitcoin is underlined in this context.
