🚀📉 Although BTC's price movements have been quite dull in the last 48 hours, its dominance over the market has increased to 50%, the highest since June. This happened as most alternative coins traded in the red (-3%), led by AVAX.
📊 BTC Dominance Is Increasing
The beginning of last week was more exciting when BTC pumped over a thousand and a half dollars, making a 6-week high of $28,600. However, it lost momentum and retreated to around $27,000.
🐻 The cryptocurrency started pumping again on Thursday, but the bears stalled the move and pushed the asset hard south. On Friday, bitcoin failed to surpass the $28,000 level, falling to $27,200.
📉 On Saturday morning, BTC rose to $28,300. However, it failed to continue upwards and retreated near $28,000, where it spent the rest of the weekend.
😴 The last 24 hours haven't brought much volatility either and BTC is currently just under $28,000. Although its market cap remains below $545 billion, its dominance over alts has risen to 50% for the first time since the early days of summer.
🔻 Bottoms are Light Red
The increasing dominance of BTC means that alts have not been performing well lately. While not major losers, cryptocurrencies such as Ethereum, Binance Coin, and Polkadot experienced minor declines in price, and cryptocurrencies such as XRP, SOL, DOG, MATIC, LTC, and BCH experienced larger declines.
📉 Avalanche's native token fell the most, falling 3.3% in the last 24 hours. As a result, AVAX is now trading below $10.
💬 So when do you think altcoins will recover? We are waiting your comments! 😊
📊 BTC Dominance Is Increasing
The beginning of last week was more exciting when BTC pumped over a thousand and a half dollars, making a 6-week high of $28,600. However, it lost momentum and retreated to around $27,000.
🐻 The cryptocurrency started pumping again on Thursday, but the bears stalled the move and pushed the asset hard south. On Friday, bitcoin failed to surpass the $28,000 level, falling to $27,200.
📉 On Saturday morning, BTC rose to $28,300. However, it failed to continue upwards and retreated near $28,000, where it spent the rest of the weekend.
😴 The last 24 hours haven't brought much volatility either and BTC is currently just under $28,000. Although its market cap remains below $545 billion, its dominance over alts has risen to 50% for the first time since the early days of summer.
🔻 Bottoms are Light Red
The increasing dominance of BTC means that alts have not been performing well lately. While not major losers, cryptocurrencies such as Ethereum, Binance Coin, and Polkadot experienced minor declines in price, and cryptocurrencies such as XRP, SOL, DOG, MATIC, LTC, and BCH experienced larger declines.
📉 Avalanche's native token fell the most, falling 3.3% in the last 24 hours. As a result, AVAX is now trading below $10.
💬 So when do you think altcoins will recover? We are waiting your comments! 😊