Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. Let's talk about market. In the last 48 hours, the crypto market has shown a strong recovery. Bitcoin has bounced back, and many altcoins have seen gains of 30–40%. However, despite this recovery, most altcoins are still trading below their previous highs. The Premium Index for Bitcoin is currently in the negative zone, suggesting that Bitcoin might still have room to grow before it becomes overvalued. As long as the Premium Index remains negative, there is a possibility for Bitcoin to hit new all-time highs. Historically, every time the Premium Index turns positive, the market has peaked, and corrections have followed. Also, Bitcoin dominance is testing resistance levels, and a breakout or rejection here will decide whether altcoins can continue their recovery.
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On the other hand, gold has been struggling at the Fibonacci golden ratio level of 1.618 around $3400, where it’s getting repeatedly rejected. For the past 2 months, gold has been moving between a support trendline and resistance. If geopolitical tensions or war-related news arise, gold could break this resistance and move higher as investors shift to safe assets. However, if it breaks the support, gold may drop toward the $2790 level, marking a potential 15% correction. This would also affect other commodities like copper. Additionally, US Dollar Dominance and DXY are also forming crucial patterns, with the potential for a death cross in July 2025 which usually indicates market bottoms. All these factors combined gold price action, stablecoin dominance, Bitcoin dominance, and Ethereum momentum suggest that while the market may be slow or delayed, a strong recovery can happen once key levels are broken. Keep monitoring these indicators and stay updated for the next moves. That's it for today. Thanks & have a good day!!
