Bitcoin’s Dominance Drops as BTC Price Briefly Dips Below $10K

Bitcoin’s Dominance Drops as BTC Price Briefly Dips Below $10K

Saturday, Sept. 21 — crypto markets continued to trade sideways, with the majority of the top 20 coins by market cap seeing losses at press time.

Market visualization. Source: Coin360
dominance continues to slip
After briefly dipping below $10,000 threshold, Bitcoin (BTC) has broken back above $10,000 to trade at $10,041 at press time. The major is down 1.1% over the past 24 hours, also seeing a nearly 3% loss over the past 7 days at press time.
Bitcoin’s dominance on the market has continued to drop, down from 67.7% at the beginning of the day to 67.5% at press time, according to CoinMarketCap.

Bitcoin 24-hour price chart. Source: Coin360
On the other hand, Ether (ETH), the second cryptocurrency by market cap and the top altcoin, is up 0.5% today to trade at $219 at press time. After seeing a bullish trend reversal earlier this week, Ether it up more than 18% over the past 7 days.

READ  Grayscale Puts Trust to the Test by Pursuing SEC Registration

Ether 7-day price chart. Source: Coin360
XRP, the third cryptocurrency by market cap, rose around 1.1% on the day to trade at $0.292. The second top altcoin is also seeing notable gains over the past 7 days, up 11.3% at press time.

Ripple 7-day price chart. Source: Coin360
Winners and losers
EOS, the seventh-largest crypto by market cap, is seeing the biggest gains over the past 24 hours at press time, up around 3.2%. As recently reported, EOS is expected to have its first hard fork on Monday, Sept. 23.
In contrast, privacy-focused coin Monero (XMR) slipped 2.6% over the day, which has led the coin to see the largest losses over the past 24 hours at press time.
Total market capitalization has seen a slight loss over the day, down from $269 billion at the beginning of the day to $267 billion at press time. Still, market cap is up on the week after crypto markets saw a notable sell-off to account for $261 billion earlier this week.
Meanwhile, the crypto community is eagerly anticipating a major industry event on Monday, Sept. 23, in the launch of Bakkt’s physically-delivered Bitcoin futures. On Sept. 19, Tom Lee, Fundstrat Global Advisors co-founder and major Bitcoin bull, expressed his bullish stance regarding the upcoming launch, claiming that it will lead to more trust in Bitcoin and crypto from institutional traders.
Keep track of top crypto markets in real time
here

READ  Crypto News From the German-Speaking World: Sept. 2–8 in Review

Leave a Reply

Your email address will not be published. Required fields are marked *

Want to automate your crypto Trading?
Try this new trading Robot!

Your information will be validated and you will be automatically redirected to the trading robot advanced dashboard.