BTC Dominance and Market Watch
Bitcoin’s recent rally has reaffirmed its dominance, holding firm near $72,000 after a remarkable rise over the past week. The leading cryptocurrency briefly spiked to $73,600 on Wednesday, edging close to its March 2024 all-time high of $73,740, before a slight pullback. Despite this minor dip, BTC’s market capitalization remains robust at $1.43 trillion, driving its dominance over altcoins to a multi-year peak.
The rally began last Friday after BTC weathered a brief dip to $65,500 on some Tether-related FUD. Recovering swiftly, Bitcoin rebounded to $67,000 over the weekend and climbed further to break $70,000 by Monday, eventually topping $71,000 on Tuesday. The momentum continued mid-week, with BTC reaching new highs as its market strength climbed, highlighting investor confidence.
Sluggish Altcoins Amid BTC Dominance
Bitcoin’s rise has eclipsed altcoins, many of which have underperformed or charted slight losses. Ethereum has declined by 1%, BNB by 3%, and SOL by 2%. Major coins like Ripple, Dogecoin, Cardano, and Toncoin are also trading in the red, while smaller assets such as TIA, ENA, STX, and RUNE have experienced sharper losses of up to 8%. As BTC dominance rises to 56.5% on CoinGecko and over 60% on other platforms, the total crypto market cap has dipped by $20 billion in 24 hours, settling at $2.53 trillion.
Despite the temporary pullback, Bitcoin’s dominance is evident, and market watchers are hopeful of a run toward fresh highs.
