A Divergence Towards BTC Dominance Has Developed; Filecoin Partners With Lockheed Martin
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On Monday, U.S. equities rose on the back of remarks that signal the reconsideration of China tariffs. However, despite the slight recovery on Monday, the broader crypto market has headed south into its eighth red week in a row. As of the time of writing, BTC is trading below the $30k psychological support level after shedding 2.5% of its market value within the last 24 hours. The largest cryptocurrency by market cap has returned to its old trading range with an immediate overhead resistance sitting near the $29.6k level. If BTC fails to garner enough momentum to rise above the $30k support level, it will likely retrace further to test the support levels within the $27.8k to $28.5k range.