ETH has reached a 4-month high against BTC, as the bitcoin's inability to resume its bull run keeps reducing its dominance over the market.
Exploding altcoins, such as Chainlink reaching a new all-time high above $24.5, have reduced bitcoin's dominance over the market to 64%.
During the past seven days, Bitcoin failed to recover and went through an extensive correction. This, however, allowed many altcoins to gain momentum.
During the past seven days, we saw an extended correction in Bitcoin’s price which failed to recover to its previous all-time highs. However, while BTC is down, a lot of altcoins started popping and gaining some serious value. For this
The crypto market cap has lost nearly hundreds of billions in a few days as bitcoin and most altcoins have dumped by double-digit percentages.
Bitcoin Expecting Huge Move After Struggling At $34K While Altcoins Enjoy Decreasing BTC Dominance (Market Watch)
Bitcoin's continuous decline in value has helped the altcoins to reduce its dominance over the market to below 65%.
Bitcoin failed to breach $38,000 and has declined in turn. Most of the large-cap altcoins followed, resulting in a cumulative drop of about $50 billion in terms of total market capitalization.
ETH exploding to a 3-year record of just shy $1,400 and other increasing altcoins have reduced BTC's dominance to 65.5% as bitcoin stalls around $37k.
The crypto market cap reaches $1 trillion again as BTC recovered from its weekend slump, while BNB and LINK paint new records.
Bitcoin's dominance drops to 66% as the asset dumped beneath $34,500 for the second time in 3 days. Simultaneously, Polkadot recorded another ATH above $19.