Suche
Bitcoin Dominance on the Rise as BTC Eyes $56,000 (Market Watch)
After yesterday's price slide below $54,000, Bitcoin has regained value and has approached $56,000. Although some altcoins such as XRP and DOT have recorded notable gains in the last 24 hours, BTC's dominance has also increased. Bitcoin Targets $56K The primary cryptocurrency exploded above $50,000 on October 5th and hasn't looked back since. On the contrary, it was mainly on the offensive, which led to it tapping $56,000 just a few days ago for the first time in about five months. However, breaking through this level proved more difficult than expected as...
Bitcoin Dominance on the Rise as BTC Eyes $56,000 (Market Watch)
After yesterday's price slide below $54,000, Bitcoin has regained value and has approached $56,000. Although some altcoins such as XRP and DOT have recorded notable gains in the last 24 hours, BTC's dominance has also increased.
Bitcoin targets $56K
The primary cryptocurrency explodes over $50,000 on October 5th and hasn't looked back since. On the contrary, it was mainly on the offensive, which led to it tapping $56,000 just a few days ago for the first time in about five months.
However, breaking this level proved more difficult than expected as bears intercepted the move and pushed BTC south. As a result, Bitcoin submerged by a few thousand dollars and went under $54,000.
The situation has changed again in the last 24 hours. Instead of continuing to fall south, BTC started rising in value again, reaching $56,000 just a few hours ago.
However, like last time, it couldn't go up any further and fell by several hundred dollars. Nonetheless, it is still up more than 1.5% on the day and is close to its nemesis at $56,000.
Bitcoin's market cap stands at $1.050 trillion, while its dominance over altcoins has reached 45% as most have fallen further behind their leader.
BTCUSD. TradingView
XRP and DOT see impressive gains
As mentioned above, most alternative coins have faltered against their leader in recent days. They are also rather calm against the dollar. Ethereum, for example, has failed to stay above $3,600 and a minor 24-hour decline has pushed it back below the line.
Cardano and Dogecoin have made insignificant gains, while Binance Coin, Solana, Terra and Avalanche are slightly in the red.
In contrast, Ripple and Polkadot have posted impressive gains since yesterday. XRP is up 10% to $1.18, while DOT is up 8% and is above $35.
Overview of the cryptocurrency market. Quantify Crypto
The biggest prize winner since yesterday is Stacks. A 38% increase has pushed STX above $2. Klaytn (11%), Qtum (10%), and IOTA (7%).
The cryptocurrency's market capitalization has also increased slightly within a day and is currently at $2.330 trillion.
.