Bitcoin dominance at 2-month high, since BTC is firmly over $ 20,000: Weekend observation
Bitcoin dominance at 2-month high, since BTC is firmly over $ 20,000: Weekend observation
The dominance of Bitcoin recovered by more than 2 % last week and reached a high in several months, since the asset remains over $ 20,000.
This happens, although the old coins recorded remarkable profits yesterday, but many have retired sharply today.
BTC dominance over 41 %
Since Bitcoin finally broke over $ 17,000 at the beginning of this week, the landscape seemed to be significantly more optimistic than at the end of 2022.
In the past few days there have been profits that the community had not experienced for months. The cryptocurrency initially rose over $ 18,000, overcame $ 19,000 and approached $ 20,000 on Friday evening. The bulls initiated another increase in the following hours, which brought BTC to $ 21,250 (on Bitstamp).
This has been the highest price for over two months and meant that Bitcoin had made up for all losses from the FTX Alameda fiasco. Although BTC has lost some of the ground since this local maximum, it is still being traded over $ 20,000, and its market capitalization is in the middle of continuing speculation about the beginning of a new bull run at almost $ 400 billion.
The dominance of Bitcoin over the old coins also increases. The key figure had fallen to 39 % last week, but has been pumped to over 41 % for the first time since November 8th.
Bitcoin dominance. Coinmarketcap
Alt's trace today
The alternative coins recorded remarkable profits yesterday, but most have now become red on Tagesskala. Solana was at the top of the rally and got up 40 % at one point. Sol marked his own high with over 23 $, but is currently below this level after a daily decline of 4.5 %.
Binance Coin has dropped by a similar percentage and is just under $ 300. Ethereum kept over $ 1,500, although it went back by 1.5 %.
ripplecardano, Dogecoin, polygon, polkadot, litecoin, Shiba inu and avalanche lost the greatest value in one day with up to 7 %.
The cumulative market capitalization of all crypto-assets has decreased to $ 970 billion at CMC, but yesterday achieved $ 1 billion at Coingecko.
Overview of the cryptocurrency market. Quantify crypto