In the Bitcoin/US Dollar Index (BTC/DXY) chart, an intriguing scenario is unfolding. Bitcoin has lost its 10-week moving average (MA) as support, signaling potential short-term weakness. However, the key support lies at the 21-week MA, currently positioned near the 78,000 USD level, which also aligns with a critical zone of significant liquidation clusters.
Simultaneously, the USDT dominance (USDT.D) chart shows a bullish divergence, suggesting that investors are reallocating their capital into stablecoins like USDT as a protective measure. This behavior typically reflects market uncertainty and potential for further corrections.
In the BTC/USDT chart, despite losing the 10-week MA, there are still 2 days remaining until the weekly candle closes, leaving room for a potential recovery. A reclaim of the 10-week MA could signal strength, while a close below it may confirm weakness and increase the likelihood of testing the 21-week MA as support.
Traders should closely monitor the weekly close and the interaction between BTC/DXY, USDT dominance, and these critical moving averages to assess the market's next direction.
Simultaneously, the USDT dominance (USDT.D) chart shows a bullish divergence, suggesting that investors are reallocating their capital into stablecoins like USDT as a protective measure. This behavior typically reflects market uncertainty and potential for further corrections.
In the BTC/USDT chart, despite losing the 10-week MA, there are still 2 days remaining until the weekly candle closes, leaving room for a potential recovery. A reclaim of the 10-week MA could signal strength, while a close below it may confirm weakness and increase the likelihood of testing the 21-week MA as support.
Traders should closely monitor the weekly close and the interaction between BTC/DXY, USDT dominance, and these critical moving averages to assess the market's next direction.
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