Rope tug-of-war between bulls and bears concentrated around the $16,000 level. However, at the beginning of the new working week, the advantage is still on the bulls' side. Bitcoin adds almost 2% in the last 24 hours and trades for $16,200. The trading volume has remained at the recently lowered levels of about $25 billion. The market capitalization of the first cryptovolta exceeded 300 billion, while the dominance index remains at a stable high level of 65%.
Altcoins do not show any obvious dynamics in anticipation of new triggers from the first cryptovolta. Nevertheless, the total capitalization of the cryptocurrency reaches almost $462 billion. Over the week, this indicator has shown an increase of 19 billion. Overcoming the threshold of 500 billion may have important psychological significance for the participants of the crypt market.
The index of greed and fear for Bitcoin and the largest cryptovalues since last week remains in "extreme greed" mode at 90, but support of buyers and fear of becoming an early seller does not trigger a wave of correction, becoming a serious force against technical indicators. This week may become a defining moment in further price dynamics of the Bitcoin, as investors will wait for a more definite BTC rate after the consolidation period.
Reaching to $16,700 is incredibly bullish no doubt. We don't want to sell either.