BTCC Crypto Daily (7.22)｜Over 90% of ETH Addresses in Profit, BTC Dominance Falls Below 60% — Is an Altcoin Rally Coming?

Today, Bitcoin is fluctuating around the $117,000 level, exhibiting a tug-of-war pattern. The price is repeatedly oscillating near the middle band of the Bollinger Bands, with both bullish and bearish forces in a temporary stalemate. A clear trend has yet to form, and overall market sentiment remains cautious.

From a technical indicator perspective, the moving average system is tightly packed, showing a lack of clear short-term guidance. The Bollinger Bands are flattening, with price movement contained within the channel and volatility decreasing. The MACD indicates a weakening of bearish momentum, but directional bias remains unclear. RSI is in a neutral-to-weak range, with no significant skew in buying or selling pressure.

For short-term traders, focus on breakout signals. If the price effectively breaks above $119,100 (near the upper Bollinger Band) with supportive indicators, a light long position may be considered, with a stop loss set below $116,865 (lower Bollinger Band). If the price falls below $116,865 and indicators strengthen the bearish signal, a light short position may be taken, with a stop loss above $119,100. During the consolidation phase, reduce trading frequency.

For medium-term traders, it is advisable to wait for a clear trend. Enter swing trades only after a breakout from the aforementioned range and confirmation from indicators. Meanwhile, pay close attention to the battle between support at $115,000 and resistance at $120,000, and strictly manage stop-loss settings.

It is worth noting that Bitcoin’s market dominance has recently fallen below 60%, indicating capital outflows. Institutions believe the altcoin rally may have started, and market sentiment is turning optimistic. Ethereum has performed notably, with record-high ETF inflows and over 90% of addresses in profit.

 As institutional capital continues to flow in, the expansion of Ethereum’s applications in smart contracts and DeFi is expected to accelerate, which will likely support its price through growing demand. Investors may watch for breakout opportunities at key levels and shifts in market sentiment.

Risk Warning: The content above is for informational purposes only and should not be construed as investment advice. Investors should conduct their own due diligence and be aware of the high risks associated with cryptocurrency trading.

How to Trade Crypto on BTCC?

This brief instruction will assist you in registering for and trading on the BTCC exchange.

Step 1: Register an account

The first step is to hit the “Sign Up” button on the BTCC website or app. Your email address and a strong password are all you need. After completing that, look for a verification email in your inbox. To activate your account, click the link in the email.

Step 2: Finish the KYC

The Know Your Customer (KYC) procedure is the next step after your account is operational. The main goal of this stage is to maintain compliance and security. You must upload identification, such as a passport or driver’s license. You’ll receive a confirmation email as soon as your documents are validated, so don’t worry—it’s a quick process.

Step 3. Deposit Funds

After that, adding money to your account is simple. BTCC provides a range of payment options, such as credit cards and bank transfers. To get your money into your trading account, simply choose what works best for you, enter the amount, and then follow the instructions.

Step 4. Start Trading

If you wish to follow profitable traders, you might go for copy trading, futures, or spot trading. After choosing your order type and the cryptocurrency you wish to trade, press the buy or sell button. Managing your portfolio and keeping track of your trades is made simple by the user-friendly interface.

Look more for details: How to Trade Crypto Futures Contracts on BTCC

BTCC FAQs

Is BTCC safe?

Based on its track record since 2011, BTCC has established itself as a secure cryptocurrency exchange. There have been no reports of fraudulent activity involving user accounts or the platform’s infrastructure. By enforcing mandatory know-your-customer (KYC) and anti-money laundering (AML) procedures, the cryptocurrency trading platform gives consumers greater security. For operations like withdrawals, it also provides extra security features like two-factor authentication (2FA).

Is KYC Necessary for BTCC?

Indeed. Before using BTCC goods, users must finish the Know Your Customer (KYC) process. A facial recognition scan and legitimate identification documents must be submitted for this process. Usually, it is finished in a few minutes. This procedure has the benefit of strengthening the security of the exchange and satisfying legal requirements.

Because their accounts will have a lower daily withdrawal limit, those who do not finish their KYC are unable to make deposits. It should be noted that those who present a legitimate ID without a facial recognition scan will likewise have restricted withdrawal options.

Is There a Mobile App for BTCC?

Indeed. For users of iOS and Android, BTCC has a mobile app. The exchange’s website offers the mobile app for download. Since both the web version and the mobile app have the same features and capabilities, they are comparable.

Will I Have to Pay BTCC Trading Fees?

Indeed. BTCC levies a fee for trade, just like a lot of other centralised exchanges. Each user’s VIP level, which is unlocked according to their available money, determines the different costs. The BTCC website provides information on the charge rates.

Can I Access BTCC From the U.S?

You can, indeed. According to its website, BTCC has obtained a crypto license from the US Financial Crimes Enforcement Network (FinCEN), which enables the cryptocurrency exchange to provide its services to investors who are headquartered in the US.

According to BTCC’s User Agreement document, its goods are not allowed to be used in nations and organisations that have been sanctioned by the United States or other nations where it has a licence.