Bitcoin’s price went to a new multi-week high of just under 3,000 but was stopped there and pushed south by around a grand. The altcoins have performed a lot worse on a 24-hour scale, resulting in a growing BTC dominance. BTC Dominance Increases Monday and Tuesday saw a few violent price rejections for the primary cryptocurrency, which was driven to ,400 on a couple of occasions during those days. However, the bulls managed to prevail and propelled a few leg-ups that helped BTC recover all losses and were quick to challenge the six-digit entry territory by Thursday. In fact, bitcoin indeed broke through that level and spiked to 2,000 on Friday and Saturday. It was stopped there at first but the bulls drove it even further hours ago to just under 3,000.
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Bitcoin’s price went to a new multi-week high of just under $103,000 but was stopped there and pushed south by around a grand.
The altcoins have performed a lot worse on a 24-hour scale, resulting in a growing BTC dominance.
BTC Dominance Increases
Monday and Tuesday saw a few violent price rejections for the primary cryptocurrency, which was driven to $94,400 on a couple of occasions during those days. However, the bulls managed to prevail and propelled a few leg-ups that helped BTC recover all losses and were quick to challenge the six-digit entry territory by Thursday.
In fact, bitcoin indeed broke through that level and spiked to $102,000 on Friday and Saturday. It was stopped there at first but the bulls drove it even further hours ago to just under $103,000.
Nevertheless, it couldn’t penetrate that line and now sits beneath $102,000. Nevertheless, its market capitalization continues to see new local peaks and sits well above $2 trillion.
BTC’s dominance over the altcoins is also on the rise. The metric has jumped to over 53% on CG after dropping to 52.5% yesterday.
Alts in Retrace
Most altcoins also tried to break out during the weekend, but most have been stopped in their tracks and are with notable losses on a daily scale. Ethereum and Ripple are down by around 2%, with the former struggling below $3,900 and the latter at $2.4.
ADA, DOGE, BNB, and SOL have dropped by up to 5% in the case of the first. Tron, Avalanche, Polkadot, and SUI have slumped even more, in some cases by up to 8%.
The cumulative market capitalization of all crypto assets is down by around $70 billion in a day and is well below $3.8 trillion on CG now.
