The whole market is worth 2.602 trillion dollars tonight, and Bitcoin still owns most of it. đ
CoinGecko data checked in the evening on 2 November puts total market capitalisation at 2.602 trillion dollars, with Bitcoin dominance at 59.91 percent and Ethereum at 10.69 percent, while Bitcoin trades near 77,776 dollars and Ethereum near 2,284 dollars. Fear sits at 37 on Alternative.me, still in Fear, up one point from 34. đš My reading is that dominance near 60 percent means altcoins will not lead a recovery on their own, so any real bounce has to start with Bitcoin holding 77,599, and until then altcoin longs are just leveraged bets on Bitcoin staying flat.
Is Bitcoin dominance a shelter tonight, or a warning that altcoins stay weak? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketData
CoinGecko data checked in the evening on 2 November puts total market capitalisation at 2.602 trillion dollars, with Bitcoin dominance at 59.91 percent and Ethereum at 10.69 percent, while Bitcoin trades near 77,776 dollars and Ethereum near 2,284 dollars. Fear sits at 37 on Alternative.me, still in Fear, up one point from 34. đš My reading is that dominance near 60 percent means altcoins will not lead a recovery on their own, so any real bounce has to start with Bitcoin holding 77,599, and until then altcoin longs are just leveraged bets on Bitcoin staying flat.
Is Bitcoin dominance a shelter tonight, or a warning that altcoins stay weak? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketData
