BTC Dominance Spikes to Yearly High; Spotify to Roll Out NFTs
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The recovery wave that was kicked off last Friday didn't last for very long at all. On Monday, the broader crypto market flipped red again. In the aftermath of the brutal collapse of the Terra ecosystem, BTC experienced its seventh straight red week for the first time since its inception. However, and as of the time of writing, the broader market seems bent on kicking off another recovery wave. The largest crypto by market cap has so far managed to defend the $30k psychological support after posting a marginal gain from Monday's decline, even breaking above the bearish trendline with an upper bound near the $29.6k level on its hourly chart. This momentum, if sustained, will likely pick up its pace should BTC close above the $30.5k resistance. On the flip side, BTC may very well revisit previous support levels in the $29k region if said momentum loses steam.