Bitcoin has Some Volatile Dips

Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.

Bitcoin has struggled fairly strongly coming into Monday morning.

Likely coinciding with fiat market dips, BTC tested below $40k for the first time in awhile. It reached $39,500 before finding strong support and moving upwards. It should be noted that both the MACD and the MFI are trending downwards and likely looking to continue trending downwards.

The overall cryptocurrency market cap dipped down to approximately $1.8 trillion when BTC hit $39,500. However, it quickly bounced up to $1.9 trillion after finding strong support. At the time of posting, BTC dominance is 40.8%, increasing significantly over the weekend. ETH dominance is currently at 18.9%, which is a strong decrease in ETH dominance over the weekend.

Ethereum broke support in its ratio to BTC recently, and it looks like it could continue losing value in its ratio to BTC. It is attempting to maintain support in this area This could mean that we may see BTC dominance slowly continue to increase in the short-term.