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Crypto Market in Peril of Seeing Major Downside as Bitcoin Strength Wanes

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  • The entire crypto market is currently consolidating as buyers and sellers reach an impasse following yesterday’s movement
  • It now appears that the market could be positioned to see massive near-term downside due to some warning signs being flashed by Bitcoin
  • If the benchmark cryptocurrency does lead the market lower, altcoins could severely underperform it

Bitcoin and the entire crypto market have seen some calmness throughout the past day, struggling to garner any directionality in the time since yesterday’s immense volatility.

This volatility was rooted in Bitcoin’s fleeting rally to highs of $10,400, which was tapped briefly before the crypto incurred ...

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