TL;DR

• BTC is up & ETH is down

• BTC over-performed ETH this week 

• Bitcoin dominance is up

• The hot coin we look at this week is TIA

Latest & Greatest 📰

Before we dive into both current and new airdrops, make sure to check the latest and greatest news across crypto:

BTC & ETH Market Update 📈

Crypto is up this week, with BTC being up 1.3% and ETH down 1.4%:

Bitcoin dominance has increased over the week, rising from 50.3% to a peak of 50.91% and ending at 50.7%. The recent ETH rally has already impacted Bitcoin's market dominance. This shift causes Bitcoin's dominance to increase, a trend observed over the past few days.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

The cryptocurrency market is currently experiencing mixed sentiments as major digital assets such as Ethereum (ETHUSD) and Bitcoin (BTCUSD) navigate through various levels of support and resistance.

Ethereum (ETHUSD) Analysis:

Ethereum is facing renewed downward pressure, targeting the critical $3727 support level. Sustaining above this level is imperative for the continuation of the anticipated uptrend, with the next target identified at $4097. However, a breach of $3727, followed by $36412, could signal a shift towards a correctional bearish trajectory, altering the current bullish sentiment.

Bitcoin (BTCUSD) Analysis:

Bitcoin remains in a consolidation phase, exhibiting sideways movement between the $67080 support and the intraday resistance formed by the EMA50. There's a prevailing anticipation for a resumption of the bearish bias, with the potential to breach the support at $67080 and target $65485. However, a decisive move above $69880 is required to invalidate the current bearish trend scenario.

Expected Trading Ranges:

• Ethereum (ETHUSD): $3700 (support) - $3900 (resistance)

• Bitcoin (BTCUSD): $66000 (support) - $69200 (resistance)

Market Outlook:

Investors and traders are advised to closely monitor the critical support and resistance levels outlined for both Ethereum and Bitcoin. Sustained movements above or below these levels could dictate the short-term market direction. Caution is warranted, particularly in light of the potential for increased volatility and the need for confirmation of trend reversals before establishing significant positions.

With BTC dominance increasing and the ETH price decreasing less than BTC, the BTC/ETH ratio is trending downwards to 18.25 ETH per BTC.

For deeper insights and updates on Bitcoin and Ethereum, make sure to subscribe to our Premium Newsletter.

Hot Coin: TIA 🔥

In this week’s newsletter we dive into Celestia’s token with the ticker: $TIA.

The price action and volume is has been growing consistently, and doesn’t seem to stop any time soon:

What is the project about?

Celestia is a modular blockchain network that decouples consensus from data availability and execution. This is done to create a more scalable and flexible foundation for decentralized applications (dApps) and other blockchain platforms.

Here's the kicker: With Celestia, developers can deploy their own blockchains without the need to bootstrap security or set up their own validator set because Celestia provides the necessary infrastructure. It’s like the DJ of the blockchain party, keeping the beat going for everyone to dance to their own tunes.

Get a more in-depth overview of Celestia in our deep dive articles:

Why is the project exciting now?

There are three main reasons why we feature this project in this week’s newsletter:

• Data Availability Is The Hot New Thing

• The “real” Cosmos Hub

• Airdrops