Bitcoin began the week with a minor correction, but altcoin traders remain unaffected. The crypto sentiment has improved significantly, with a sharp increase in crypto wallets holding over $1 million in Bitcoin. However, Bitcoin could face headwinds in the near term due to upcoming macroeconomic data and events. A short-term pullback is seen as healthy for the market, and analysts expect Bitcoin to rally in 2024. The S&P 500 Index is showing bullish signs, while the US Dollar Index is facing resistance. Bitcoin’s price is holding near the channel’s resistance line, but demand seems to be drying up at higher levels. Ether is attempting to flip the $2,000 level into support, while BNB is consolidating between $240 and $258. XRP is trading below $0.67 but is showing signs of a potential breakout. Solana’s rally may be overextended, and a correction or consolidation could be on the horizon. Cardano broke through a barrier but failed to sustain the recovery, while Dogecoin experienced a pullback after failing to maintain higher levels. Chainlink’s rally may also be overextended, and a pullback to key support levels is possible.
