The cryptocurrency market is under renewed pressure, losing gains made earlier in the week with Ethereum (ETH) falling below the $1900 mark.
Double Bottom Formation Intact
Despite the pressure, both Aptos (APT) and Bittensor (TAO) have maintained their double bottom formation, which often signals a potential trend reversal. Earlier this week, both tokens rebounded from this key support level.
Factors Influencing the Market
A key factor in these tokens’ price action is Bitcoin's dominance (BTC.D), dictating capital flow in the crypto market. BTC.D recently rebounded from several key support levels.
What to Expect?
BTC dominance will dictate the next phase for altcoins. A failure to break resistance could see altcoins recovering, whereas a breakout might lead to further selling pressure.
The coming days will be crucial for the altcoin market. Investors should monitor BTC dominance levels for shifts in market sentiment.
