Bitcoin dominance increases to a 2-year high, while BTC holds $ 26,000 (Market Watch)

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Von Krypto News Österreich

Although it has remained relatively quiet in the past few days, Bitcoin's dominance has increased to over 48 % for the first time in over two years.

This is due to the fact that most larger old coins, including atom, apa, ADA and other, minor daily losses.

BTC dominance increases

Bitcoin started rather stagnating last week and slowly acted around $ 26,000. All eyes were directed towards the USA because the CPI numbers and the next FOMC meeting of the Fed were announced and both should be announced during the week.

The inflation rates dated on Wednesday showed a slight decline. Apart from a short increase of $ 200, this had no real influence on BTC's price movements. The US Federal Reserve's US Federal Reserve decided on Thursday, something, decided to interrupt its monetary policy to increase interest rates.

The impact that this had on Bitcoin was even more surprising, since the asset broke up by more than one thousand in the following hours and achieved a three-month low of less than $ 24,800.

However, he managed to recover quite quickly when BlackRock had requested a Bitcoin spot ETF. This initially led to a price increase of $ 1,000 before shot $ 26,800 on Saturday.

BTC calmed down in the following hours and remained at around $ 26,500 for a few days. Its market capitalization is a little more than $ 510 billion, but its dominance compared to the old coins is 48.1 % on CMC, which has been the highest level in over two years.

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alts have become red

Most old coins also rose sharply on Saturday, but could not rise any further. The majority of the large cap alternatives are even slightly in the minus in the day.

This includes ETH, BNB, Sol, Trx, Matic and Avax - all of which have decreased by about 1 %. Cardano fell most from the top 10 with over 2 %.

ripple and Dogecoin are among the few exceptions with minor growth. Flare (FLR) got into the top 100 after a massive daily increase of 12 %.

Overall, the crypto market capitalization is almost at the same level with less than $ 1.070 trillion.

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