News Alert-

#Bitcoin Dominance Reaches 4-Month Peak as #Altcoins Lose Momentum (Market Watch)

Although BTC’s price movements have been quite boring over the past 48 hours, the asset’s dominance over the market has increased to 50% – the highest since June.

This comes as most alternative coins are trading in the red once again, with #AVAX leading the way south (-3%).

$BTC Dominance on the Rise

The beginning of last week was a lot more exciting for BTC, which pumped by over a grand and a half on Monday alone to tap a 6-week peak at over $28,600. However, it quickly lost its momentum and retraced back down to around $27,000.

The following few days were less volatile before the cryptocurrency started pumping once again on Thursday. However, the bears intercepted the move and pushed the asset south hard. By Friday, bitcoin had declined to $27,200 after failing to conquer the $28,000 level.

Another leg up came on Saturday morning when #BTC jumped to $28,300. Nevertheless, it failed to keep going upwards and retraced back down to around $28,000, where it spent the rest of the weekend.