Bitcoin is still dominant despite price retrace
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The $67,000, $64,000 and $62,000 key support levels are worth keeping an eye on because they might act as stabilizing points forif it keeps retracting. In order to maintain its bullish momentum and possibly advance higher, Bitcoin must recover and hold above $70,000. The market is impacted broadly by Bitcoin's current dominance. Altcoins are likely to continue to struggle on their BTC pairs as long as Bitcoin is strong. Because of this dominance cycle, it appears that Bitcoin is concentrating capital, making riskier altcoin wagers less alluring.
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