Crypto market update ✍️

Good evening to all my friends. I hope you all are doing well and enjoying holidays with family and friends. I am also having a fantastic day. Today i am going to discuss about multiple parameters of the crypto market, including Bitcoin, altcoins, and the overall market situation. By the end, you'll get a clear understanding of where things stand. Right now, the total crypto market cap is around $3.35 trillion. Looking back, in 2013, the market cap peaked at around $15-16 billion, and by 2017, it broke that previous peak and reached $22 billion before correcting 30%. In 2021, the market cap broke the $1 trillion mark, peaking at $1.13 trillion before a 34% correction. Currently, after hitting $3 trillion in 2024, the market cap reached $3.75 trillion but faced a 20% correction. However, the market is showing a bullish retest, bouncing back from previous resistance levels. The USD dominance chart is also signaling bullish momentum as it struggles at resistance after breaking a key support level.

In terms of market sentiment, a declining USD dominance means more investments are flowing into crypto, signaling a bullish trend. I’m monitoring the RSI (Relative Strength Index) at 72, with resistance at 88, which will help indicate if we’re nearing a market top. Looking at "Total 2" (altcoins and stablecoins), the market is bouncing from previous resistance areas, showing bullish potential. In contrast, "Others" (smaller altcoins) have recently broken support levels and are showing weakness. Overall, while the market is recovering, it's important to stay alert to these levels for potential changes. That's it for today. Thanks & have a good day!!

@abfarhan