The Last Line of Resistance Separating BTC and ETH From the Promised Land

In TradFi markets, traders used to meet face-to-face to place orders and duke it out. Similarly, in crypto, we can use on-chain metrics and stablecoin dominance to predict market trends.

As of now, the MVRV (market-value-to-realized-value) difference chart indicates that the BTC rally has much further to go. The SEC's crackdown on stablecoins has led to a drop in their dominance, benefiting BTC.

However, the technical trend change for the dollar from bull to bear could affect crypto. The final crucible BTC and ETH will need to overcome is their descending resistance of their 30-day returns.