Bitcoin dominance increases because BTC reached the 5-month high with $ 24,000: market observation

Bitcoin dominance increases because BTC reached the 5-month high with $ 24,000: market observation

Bitcoin has initiated another upward movement in the last 24 hours and achieved a new five -month high with just under $ 24,000.

The old coins are slightly in the red on the scale, which has contributed to the fact that the BTC dominance has increased to over 42.5 %.

Bitcoin has reached $ 24,000

It was less than two weeks ago when Bitcoin fell under $ 20,500 when it seemed as if the rally in 2023 had been stopped on its way. However, the asset quickly made up for the losses and recorded new profits in the following days.

The end of this week was particularly impressive when BTC jumped from $ 21,000 to over $ 23,000. Last week there were much fewer price fluctuations, and BTC was largely around $ 23,000, apart from an increase to $ 23,800 on Wednesday.

The weekend was also calmer with Bitcoin, which was traded at $ 23,000. However, the landscape began to change early Monday morning when BTC jumped to $ 23,968 (on Bitstamp) for the first time since mid -August. Apart from the fact that it was a multi -month high, this price increase meant that many of the 2019 buyers made profits.

The bears caught the movement and pressed BTC by almost $ 1,000 south. As such, Bitcoin is now only a few centimeters over $ 23,000. Nevertheless, its market capitalization has risen to $ 450 billion, while its dominance over the old coins is up to 42.5 %.

btcusd. Tradingview

alts in red

The old coins were also calmer at the weekend, but most of them have now become red on the daily scale.

Ethereum is below $ 1,600 after a slight daily retracement, while BNB kept over $ 300, although it fell by 1.3 % that day. Larger losses are characterized from Ripple, Cardano, Dogecoin, Polygon, OKB, Polkadot, Shiba Inu, Litecoin and Avalanche. All of them have dropped between 2.5 % and 4 %.

The local cryptocurrency of Lido Dao has slipped by over 5 %, but is still well over $ 2 after the latest bull run.

mana is one of the few large and mid-cap alternatives with day-winning, which rose by 4 % that day.

The entire crypto market capitalization has remained over $ 1.050 trillion.

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