Bitcoin dominance hits 3-month high as ‘hammered’ altcoins risk dive

Bitcoin (BTC) ground greater on Oct. 10 after the start of legacy market trading saw “de-risking” take over.BTC/ USD 1-hour chart.” Better to see what spot market desires later,” he encouraged.$ BTC as you can see rate is really much associated to perp involvement ~ positions chasing after the market Better to see what spot market desires later https://t.co/VH46ZsLRbO pic.twitter.com/S3GScvPDtc— Skew Δ (@ 52kskew) October 10, 2023

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Some market individuals were broadly positive, among them Michaël van de Poppe, creator and CEO of trading firm MN Trading.In his most current X post, Van de Poppe explained altcoins as being “hammered” by sell pressure while Bitcoin held support.” If Bitcoin is able to break back above $28,000, the thesis to $35,000-40,000 may become genuine,” he argued.A previous post anticipated that “probably the path towards $30K is going to begin with here,” with an accompanying chart revealing pertinent resistance levels.BTC/ USD annotated chart. Source: Michaël van de Poppe/XAltcoins bear impact of crypto cold feetAgainst altcoins, the image remains in Bitcoins favor, information meanwhile showed.Related: War, CPI and $28K BTC cost– 5 things to know in Bitcoin this weekBitcoins share of the general crypto market cap hit 51.35% on Oct. 9, marking its greatest levels given that mid-July. Bitcoin market cap supremacy 1-day chart. Source: TradingView” A great deal of Altcoins appearing like they are breaking significant support zones and bringing us some juicy short entries,” popular trader Crypto Tony continued on the topic.On Bitcoin, Crypto Tony flagged $27,200 as the level to hold to avoid going short BTC.$ BTC/ $USD – Update #Bitcoin continues to range as we bounced off the assistance zone yesterday. I remain long till we lose $27,200, which then i will seek to short down pic.twitter.com/rLyokRPqWp— Crypto Tony (@CryptoTony__) October 10, 2023

Bitcoin (BTC) ground higher on Oct. 10 after the start of legacy market trading saw “de-risking” take over.BTC/ USD 1-hour chart.” Better to see what spot market desires later,” he recommended.$ BTC as you can see rate is very much associated to perp participation ~ positions going after the market Better to see what area market wants later on https://t.co/VH46ZsLRbO pic.twitter.com/S3GScvPDtc— Skew Δ (@ 52kskew) October 10, 2023

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