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Bitcoin 
$104,947 continues to attract attention as it surpasses significant resistance levels. Following the recent breakthrough, the focus is on a target of $130,000. This target is supported by technical indicators based on Fibonacci analysis.
Next Target for Bitcoin
Analysts tracking Bitcoin’s movements pay attention to how Fibonacci levels function as support and resistance on a weekly basis. After the recent surge, the $130,198 level is identified in alignment with the 3.618 Fib extension. Stable market conditions and increased adaptation enhance the likelihood of reaching this target.
Is USDT Dominance Weakening?
USDT Dominance (USDT.D) serves as a crucial indicator of overall market sentiment. A decline in USDT.D suggests that traders are returning to cryptocurrency markets, potentially signaling positive momentum.
Matthew Stella noted that changes in USDT Dominance could positively impact the cryptocurrency market.
Altcoins Face Delays
The altcoin market has experienced significant fluctuations in recent weeks. Analysts prefer to focus on ALTBTC pairs rather than USD pairs to better track the performance of altcoins against Bitcoin. This approach can help identify potential turning points in altcoins.
In particular, the SOL/BTC pair is closely monitored as it approaches a critical daily support zone, based on its past performance. If the price maintains this level, positive effects on altcoins’ overall market movements may be expected.
As market technical indicators and overall sentiment converge, Bitcoin’s movements toward the $130,000 region are being closely observed. Traders continue to evaluate future developments based on chart analyses.
In conclusion, Bitcoin’s $130,000 target, changes in USDT Dominance, and altcoin performance provide significant insights into the cryptocurrency market’s trajectory. Traders who monitor these dynamics can gain a better understanding of market movements.
