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As Bitcoin Remains in Limbo, Peter Brandt Says This Chart Could Be the Big Tell

Sun, 06/26/2022 - 19:00
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Alex Dovbnya
Peter Brandt has also suggested that market sentiment has seemingly turned overly bearish
As Bitcoin Remains in Limbo, Peter Brandt Says This Chart Could Be the Big Tell
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In his recent tweet, prominent trader Peter Brandt says that the Bitcoin dominant chart could be “the big tell.”

BTC
Image by tradingview.com

The trader believes that getting above the 50% level would be hugely positive for the largest cryptocurrency.

At press time, Bitcoin accounts for 42.5% of the total market share, according to CoinMarketCap data.

As reported by U.Today, the flagship cryptocurrency’s market dominance surged to the highest level since October earlier this month following a massive market downturn.

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JPMorgan Says Bitcoin Price May Remain Under Pressure. Here’s Why
Bitcoin’s market share tends to grow during bear markets since it is perceived as a safer asset compared to altcoins.

The crypto king remains in the doldrums together with other top altcoins, with Dogecoin being the only exception. The meme coin has spiked by more than 10% over the past 24 hours.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.