Things Could Get Weird

Moving Sideways

To the relief of many crypto investors, the market has mostly churned sideways this week. Volumes have receded following the large selloff a couple of weeks ago as Bitcoin fights to avoid its ninth consecutive red weekly candle.

As we have been discussing, altcoins have not found much respite amid the market tumult either, as bitcoin dominance continues to show strength, surpassing 46% again this week. This is an effective demonstration of bitcoin’s safer risk profile relative to altcoins.

The Global Picture