Bitcoin dominance increases to 9-month high because old coins go back (Weekend Watch)

Bitcoin dominance increases to 9-month high because old coins go back (Weekend Watch)

The dominance of Bitcoin continues to increase because most of the alts have broken in today, while BTC lasts over $ 27,000.

atom, LDO and APT are now one of the greatest losers at up to 7 %.

Bitcoin dominance achieves new peak values ​​

The US banking crisis, in which three banks were closed within a few days, and the subsequent rescue speculations and the lending of the US Federal Reserve in the amount of $ 300 billion to certain banking institutions, BTC drove to the north this week.

The asset was only a few centimeters over $ 20,000 last Sunday, but began to continue marching at the beginning of the working week. After several consecutive massive rallies, the cryptocurrency was traded over $ 26,000 for the first time in months.

It declined for a few giants in the next two days, but went on the offensive again on Thursday and Friday. This led to a jump over $ 27,000 and achieved a new $ 9-month high with almost $ 28,000

Although BTC has not yet been able to overcome this line and is easy, BTC is still traded north of $ 27,000. Its market capitalization is over $ 520 billion, while its dominance over the old coins has reached the highest level since June 2022.

BTCUSD. Tradingview

old coins are red

The alternative coins have also recorded remarkable profits in the past few days, but most have withdrawn today. Ethereum reached its own high of over $ 1,800, but a daily decline of 2 % has pressed it just below this level.

Binance Coin, Cardano, Solana, Tron, Shiba Inu and Polkadot have decreased by similar percentages. Dogecoin, polygon and litecoin went even further in one day.

Nevertheless, the greatest losses from Atom, LDO, Stx, Fil and Apt. All of these assets broke up between 5 % and 8 %.

Of course, the cumulative market capitalization of all crypto-assets has decreased slightly, with almost $ 20 billion being evaporated.

Overview of the cryptocurrency market. Quantify crypto