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🧵Has altseason started? 5 things to know about Bitcoin this week:
1️⃣ BTC accumulation, altcoin explosion
Bitcoin is in a "wait and see" phase around the $119K mark, as money flows into altcoins like ETH and XRP. BTC dominance has dropped sharply from 66% to nearly 60% – a clear sign of altseason.
2️⃣ Risk of deep adjustment
Some traders warn about a pullback to $114K to fill the CME gap. The unclear wick up suggests that market makers may be building shorts.
3️⃣ Target price temporarily stabilizes
BTC could reach $130K in the next 2–3 weeks, but higher milestones like $145K–160K are still far off. Traders expect the final surge in Q4.
4️⃣ Fed and Powell exert pressure
Fed Chairman Jerome Powell continues to be pressured by Trump to cut interest rates, although the likelihood of a cut in July is only <5%. FedWatch: the market is torn between "holding steady" and "a 0.25% cut" in September.
5️⃣ BTC flows into the exchange
CryptoQuant warns that the amount of BTC on exchanges is increasing again — a signal that investors may take profits and selling pressure could rise. Whales have not dumped heavily yet but need to be monitored closely.
📌Altseason is heating up, but be cautious of short-term volatility!
#Bitcoin # Altseason #CryptoVietnam # BTC #ETH # Powell #CryptoQuant