Bitcoin Slides 7.2% as Crypto Market Shifts Bearish, Ethereum Surges 70% Since June
The cryptocurrency market has entered a bearish phase, with key indicators signaling a shift in investor sentiment and asset allocation. Bitcoin, which reached an all-time high of $124,000 last week, has since retreated below $115,000, triggering bearish signals on technical indicators. This correction has marked a return to Bitcoin dominance, with the Bitcoin vs Altcoin Season indicator showing that 90% of returns are now concentrated in Bitcoin, a trend typically associated with risk-off environments [1].
Ian Belina, a leading crypto analyst, described the current pullback as a “healthy cooling-off correction” rather than a reversal of the long-term trend. He emphasized that while the decline in momentum is notable, it may…
