Bitcoin has managed to hit a high at nearly ,000 today but has since retraced a bit and it now hovers above ,000. However, BTC’s dominance suffers as some altcoins, including Binance Coin, have surged in the past 24 hours, and the metric is just slightly above 60%.Bitcoin’s Stays Above KEver since the primary cryptocurrency dipped to ,000 on March 6th, the bulls took control and pushed the asset north. In the following days, BTC firstly reclaimed the coveted ,000 before heading for a fresh two-week high.That last part resulted in yesterday’s intraday high at almost ,000 (on Bitstamp). However, bitcoin failed to breach that level, and the subsequent rejection plummeted its value by ,000 to ,000.Nevertheless, BTC has reclaimed some ground since that low and currently
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Bitcoin has managed to hit a high at nearly $56,000 today but has since retraced a bit and it now hovers above $54,000. However, BTC’s dominance suffers as some altcoins, including Binance Coin, have surged in the past 24 hours, and the metric is just slightly above 60%.
Bitcoin’s Stays Above $54K
Ever since the primary cryptocurrency dipped to $47,000 on March 6th, the bulls took control and pushed the asset north. In the following days, BTC firstly reclaimed the coveted $50,000 before heading for a fresh two-week high.
That last part resulted in yesterday’s intraday high at almost $56,000 (on Bitstamp). However, bitcoin failed to breach that level, and the subsequent rejection plummeted its value by $3,000 to $53,000.
Nevertheless, BTC has reclaimed some ground since that low and currently hovers above $54,000.
The technical indicators suggest that the $55,000 is the first significant resistance line in bitcoin’s way up. Should the asset overcome it decisively, the following obstacles are $56,112, $57,685, and the all-time high at $58,355.
Alternatively, BTC could rely on the support levels at $54,000, $53,000, and $52,480 in case another retracement materializes.
BNB Eyes $300, While DOT Goes for $40
Most larger-cap altcoins have calmed following the past few days of turbulence in the cryptocurrency space. Ethereum stands still above the $1,800 price tag, while minor gains for Litecoin have pushed LTC near $200.
Cardano has added 3% of value and is above $1.16. Minor losses are evident for Ripple (-2%), UNI (-4%), Chainlink (-1%), and Bitcoin Cash (-1%).
In contrast, Polkadot has spiked by 7% to above $38 and has $40 in its sights. Binance Coin is the most impressive gainer from the top ten with an 18% surge. As a result, BNB has jumped to $285 and is just inches away from conquering $300.
Polygon has added the most substantial chunk of value since yesterday after news broke that Coinbase will list the asset. As a result, it has surged by 50% to $0.335.
Avalanche (30%), NEAR Protocol (23%), Pundi X (20%), Kusama (15%), Ravencoin (14%), Fantom (13%), and PancakeSwap (11%) are next.
The somewhat bullish developments in the altcoin market have harmed BTC’s dominance. The metric comparing bitcoin’s market capitalization with all other coins has dropped to 60.2% – just a few days ago, it was at about 62%.