Bearish Signals Flash Across Crypto: BTC.D Rising, Stablecoin Dominance Climbs

BTC breaks support as stablecoin dominance hits 11.03% and BTC.D trends lower. Charts point bearish across crypto. This is not financial advice.

Bitcoin closed down 1.12% on Thursday, printing a local low at $72,582. The short-term support at $73,309 broke clean. According to MooninPapa on X, the next support on the menu sits at $70,466. The support fan took damage earlier in the week.

RSI closed Thursday at 24.49. Technically oversold. The last time something similar printed, the bounce came first and the real drop followed. MooninPapa noted on X he is watching for RSI to cross back above 25 before treating it as any kind of confirmation signal. Not there yet.

Stablecoin Dominance Just Printed a Number Worth Watching

Combined stablecoin dominance confirmed a TBO open long on Thursday, May 28. A new local high printed at 11.03%. The 4-hour slow line is starting to curl up. Per MooninPapa’s YouTube market update, the accumulation zone trigger he is watching sits at 13%. That is where things get interesting for alt positioning.

Back in June 2022, stablecoin dominance peaked at 16.743% before the final capitulation. MooninPapa was direct: 13% is a starting pistol, not an all-in signal. The market has not been there yet. As he noted on X, reaching that level just opens the door to hunting long setups on select alts. Nothing automatic about it.

Bitcoin dominance continued lower on Thursday with a confirmed TBO close long. BTC.D falling while stablecoins climb is not a friendly combination for the broader market. OTHERS.D, by contrast, stayed strong bullish on the day, though overbought. RSI on OTHERS closed at 69.47.

ETH Chart Still Has a Red Month Target in View

Ethereum put in another lower local low on Thursday. Below the daily TBO cloud. RSI closed at 23.14. On-balance volume is described as strong bearish. A snapback toward $2,098 to $2,100 remains possible, per MooninPapa on X, but the monthly forecast has been pointing at a red close and a possible $1,776 target. Two days left in the month.

TOTALES is working on a TBO open short. That is a late confirmation of a bearish downtrend. The last TBO open long on the same chart printed back on April 14, after the price had already moved up 13%. It then added another 11% before the reversal signals started showing up, as noted by MooninPapa in his update.

TOTALE100 printed a TBO breakdown cluster on Thursday. That chart covers the total crypto market cap below the top 100 coins. MooninPapa’s read: wait for the price to return to the fast line before using it as a short entry reference. Not a sell-everything signal. More of a positioning reminder.

TradFi Was Not Exactly Calm Either

DXY opened Thursday at 99.265 and closed red, filling its gap. RSI on the dollar index is putting in lower highs and lower lows. Still technically strong bullish above the cloud, but it does not look bullish in structure. S&P futures pushed higher. VIX closed lower. NVIDIA is snapping back toward its fast line, per MooninPapa’s X post.

Gold dipped to the TBO fast line before putting in a small bottom. Silver held. Uranium is approaching the first TBO fast line take-profit target. Oil still has a gap sitting above current price. These traditional markets are worth tracking alongside stablecoin dominance, as stablecoin-driven crypto pressure has been building for weeks.

Among individual picks, XLM surprised with a 33% move on Thursday. Not a chase, per MooninPapa’s analysis. HYPE remains technically bullish but RSI is weakening. RENDER pulled back 19% to the fast line. INJ stays a clean DCA-style chart. TRX printed a rare volatility shift that dropped RSI from 61.81 to 36.48 in a single session. That kind of move is unusual for a coin that normally trades in 2% to 3% ranges.

On the bearish side, Cardano printed a TBO breakdown on the daily. CRO registered two confirmed TBO breakdowns across the daily and 4-hour. BONK posted breakdowns on both timeframes. TOTALE100’s breakdown cluster, combined with the stablecoin open long, adds weight to the lower-high risk building on the Bitcoin chart.