As much as I love the current altcoin setups, there is a big chance we will see another correction across the whole #crypto markets. 📉 (I hope Im wrong)

Here is why 👇

- War mongering by Europe and the Biden administration against Russia, which could escalate into WW3 (potential black swan event)

- Trump changing his stance towards crypto and announcing his ambitions to become the "crypto president", which could be a sell the news event for whales to dump on retail

- Biden administration strongly against crypto and dont like to see it thrive. They will do whatever it takes to stop the increase of retail adoption

- Ethereum ETF, another sell the news event to dump on retail

- Most of the top 10 stonk charts look very overextended and are due for a correction. Stocks and crypto market very correlated

- Over confidence and overall bullish crypto sentiment usually leads to a decent market correction

- Summer usually the season with very low trading activity, "sell in may and go away"

- Saudi Arabia ditches the Petrodollar, which is actually bearish for the US Dollar, but the majority of times markets react the exact opposite.

- DXY still looks strong and forming a bottom

- USDt dominance also bottoming and about to have a break out to the upside (?)

- BTC looks weary and toppy

- BTC dominance looks toppy and already broke out of its steap uptrend, but could have a last come back here

- The meme coin craze (esp. created by celebreties) is always a precursor for a market cool-off

There are many reasons to be cautious here, especially holding high risk assets like crypto. I still hope I am wrong here since many of our favorite altcoins haven't been performing well or at all and if we see a correction they will follow the market to the downside. 

#Bitcoin $ETH $BNB $LTC $SOL
#crypto