As Bitcoin approaches record highs, altcoins such as ATOM are experiencing consolidation, with ATOM finding key support at the $4.20 mark. The ATOM/USD pair has shown stabilization around $4.21 after a selloff, suggesting that it may be poised for a movement if Bitcoin cools down. During the 24-hour window leading up to July 3, ATOM traded within a narrow range of $4.09 to $4.26, indicating a 4% swing. Strong buying activity emerged at the support level of $4.20, yet ATOM struggled to maintain momentum above the $4.25 resistance. Meanwhile, the CD20 Index reached a peak of $1,811.11 before retracting due to profit-taking, reflecting temporarily strong altcoin momentum. With Bitcoin currently dominating investors' attention, ATOM's price action remains muted; however, it may have potential for a rally if Bitcoin stabilizes after its upward push. The overall altcoin market is closely linked to the performance of Bitcoin and Ethereum, with their movements significantly impacting the market dynamics of altcoins like ATOM.

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