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mexc important announcement

Altcoins have experienced a decline over the past three months and have entered an accumulation phase.

According to cryptocurrency traders, the altcoin market is currently in a "re-accumulation phase," and after regaining key support levels, it may enter the "second phase" of the cycle.

Independent cryptocurrency trader Mags mentioned in a post on the X platform on July 25th: "Altcoins have only risen 58% after breaking out of a 525-day accumulation period."

The accumulation phase occurs when the market reaches the bottom, and the price reaches a local bottom, as reflected by the 33% decline in TOTAL2 (the total market capitalization of all cryptocurrencies except Bitcoin) since March 11th.

Altcoin's cumulative model has been activated, and Bitcoin's dominant position has reached its peak.

The price of Bitcoin is forming a bullish wedge pattern while still hovering near the All-Time-High of 2021, with traders hopeful of targeting the next price target of $85,000.
"Bit...

Bitcoin is forming a "massive" price wedge pattern as traders target the $85,000 level.

Only taking risks is meaningful when the majority of funds are very safe.

Author: Biteye Core Contributor Viee
Editor: Biteye Core Contributor Crush
Community: @BiteyeCN

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👇 Through indicator analysis, the following performance of crypto assets was analyzed:

BTC, the eternal king: BTC.D index
ETH is lagging behind BTC in this stage: ETH/BTC exchange rate