Dear Readers,
At the time of writing this article the global crypto market value is at $ 2.14 Trillion, a up of 1.54% in the 24 hours.
The market leaders BTC is trading at $57894 and ETH is trading at $ 3126. Both are trading more than 1% up from yesterdays price.
The fear greed index is at 41, which is fear.
The BTC dominance is 53.3%
But we need to understand that the BTC dominance graph is witnessed as per the Titan of Crypto's X post, the breakout on the rising wedge is confirmed. In this situation, BTC dominance is expected to experience a decline to the downside. This indicates that it is a good time for altcoins to recover after weeks of corrections.
As per the blockchain data, the altcoin index is currently is at 37; when the point goes above only we can confirm this being a altcoin season.
You can also see the top performance of the ALT coins in the last ALT Season.
It is learnt that in the ALT seasons, many coins would outperform the BTCs performances as well.
It is everyone's expectation that once ETH ETFs would start to trade, there will be a great inflow of investment in the crypto market which would help to reduce the BTC dominance which help for the alt coin to pump including ETH.
But on the other hand, BTC's top dates are in 2025. We can also expect BTC to rise by next year. There are various propelling factors in the US also including the political climates are so supportive for the cryptos. So overall we expect a pull back to higher in global crypto market.
In an interview to Bloomberg media, the kraken executive said that there would be an inflow of 750 million- 1 billion on ETH ETF on a monthly basis.
If we take the current BTC ETF inflow, according to the JP Morgan data, the Spot Bitcoin ETFs attracts a $882 million during the week ended July 11, with an average of $175 million coming in per day.
The data reported by cryptoquant also quite encouraging that there is an increased inflow in BTC ETF ( See the attached link for more detailed view on this). This shows that the big players and whales are accumulating BTC at its lower price region.
So it is very interesting to know that the steady inflow on investment through the ETFs and excited to get to know the results in the days to come.
So as mentioned and suggested in all our previous articles, use the market trends wisely.
Happy Investing!
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