Market Update: Bull Trap Warnings After Bitcoin Shoots Above $18k Handle
Bitcoin has climbed above the $18k handle once again and a myriad of crypto assets are up between 1-6% during the last 24 hours. Bitcoin’s dominance index, in comparison with the 7,500+ crypto assets’ market caps, is currently just above the 63% handle.
Other analysts assume that the demand for bitcoin (BTC) and other crypto assets stem from Millennials and the Gen Z generation. Meanwhile, even though BTC slid 15% in value the other day, many expected the crypto asset to slide a lot more than that, as it has traditionally seen slides much larger in the past (-30% or more).