After a morning growth, the market experienced a correction. The external background in the form of the dollar index and the stock market still looks positive and supports the crypto market. BTC dominance is decreasing from previously reached levels.
Altcoins show mixed dynamics. Notable mentions include:
- The TOMO token which has surged, but a correction is expected soon.
- The synchronous fall of INJ and SXP at 3 AM.
News
17:00 – The JOLTS Job Openings report (Feb) will be released. This news is important and volatility will be high. The report is expected to be strong, so the market is likely to respond with a decrease.
Several members of the Federal Reserve will be speaking in the evening, which will not bring positivity to the market.
Basic Scenario
Growth until 5 PM, then likely a decrease. Everything will depend on the report which will set the mood for investors during the American session. It is concerning that the crypto market is not reacting to the positive performance of stocks and the dollar index and is still struggling at the same levels after breaking through $29,000 last week.
