The market eventually made a powerful upward leap and created a lot of fat liquidations. Shorts on futures still prevail, so the fuel for an upward move remains. At the same time, the external macroeconomic background is quite neutral. What was drawn on the daily time frame chart in BTC is stunning. It is no wonder that the community is hotly discussing the cartel of market manipulators who have shifted their focus to AI. A correction has now begun in the stock market and crypto has joined in. Investors still fear a deep correction due to last weekend’s events.
News
There are no important news today. There will be blocks of statistics in the US, but the market is waiting for the Federal Reserve rate, and these data will not affect the rate.
Base scenario
I would not speculate on what will happen with BTC and ETH right now. Instead, I would buy altcoins that have not yet taken off. And there are still quite a few of them.
Among the major coins, I would highlight AAVE. SHIB is still questionable, and the token will most likely grow, but the community is discussing an unpleasant scandal about the code of the Shibarium network (Layer-2 from Shiba Inu), which is fully copied from another project, and this is being successfully proven. In light of this situation, I would stay away from the coin.
Base scenario
The stock market has started to decline, and during the American session, BTC and ETH could make a significant turnaround, cooling the market and possibly even causing a correction. However, there is still a high probability of growth in altcoins over the weekend.
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