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Altcoins continue to lag while Bitcoin shows renewed strength, flirting with reclaiming all-time highs and pushing further.
Sentiment remains firmly bullish—but it’s predominantly bullish for Bitcoin. As the “risk-off” asset within the crypto space, Bitcoin is absorbing the lion’s share of capital flows. The recent European Union tariff debacle hasn’t just stalled price progress; it’s dampened sentiment across the broader market. With increased macro uncertainty, investors are less inclined to take on additional risk through altcoins, preferring instead the relative safety of Bitcoin.
This shift in preference is evident in Bitcoin dominance, which is steadily climbing and now nearing 65% once again. Meanwhile, the total altcoin market cap remains in consolidation, effectively waiting for Bitcoin to dictate the next major move. The Fear & Greed Index is sitting just one point shy of “Extreme Greed.” Despite Bitcoin’s recent bullish momentum, altcoins remain sluggish and secondary—no meaningful signs of an altseason on the horizon.
Stormrake Spotlight: Bittensor (TAO) ($428)
Stormrake Spotlight: Bittensor (TAO) ($428)
Although TAO closed green yesterday, it was far from a convincing bullish session. Intra-day, TAO rallied as much as 7.70% before bears stepped in aggressively, slamming price back down and rejecting any breakout attempt. This highlights considerable resistance and seller strength at current highs.
From a structural standpoint, TAO remains bullish as long as it holds above the recent higher low at $390. However, any breakdown below this level would shift the tone quickly.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin is currently locked in a tug-of-war between bulls and bears. The $109.5k level has acted as strong resistance, repeatedly defended by the bears, while bulls are managing to maintain support at $106.5k.
This recent failed breakout attempt by the bulls suggests a leaning towards bearish structure. If bears succeed in driving price below $106.5k, it would mark a lower low, cementing the current lower high and confirming bearish structure in the short term.
BTC Total ETF Flows for 26 May: (data not available at the time of writing)
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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