Good morning, Welcome to your daily crypto clarity
WHAT YOU NEED TO KNOW
Bitcoin rallies into the 46,000, erasing its post-ETF gains.
Bitcoin dominance has climbed on this recent rally, pointing to Bitcoin’s leadership in this move.
FEATURED CHART
The Russell 2000 index $IWM is an index representing small-cap stocks in the United States. In recent months, the index has been coiling in a series of higher lows and lower highs. These contractions in volatility often proceed with directional moves. The price action in IWM is getting tight, pointing to a resolution in either direction.
WHAT TO LOOK OUT FOR
With Bitcoin resolving higher from the upper end of this trading range, the bias is higher for crypto markets over the near-term.
The key level to watch on the downside for Bitcoin is 44,500.
We’re closely monitoring whether this momentum in Bitcoin dominance $BTC.D continues, pointing to Bitcoin leadership.
You’re all caught up.
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