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November 27, 2022
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Guide & Analysis

Bitcoin dominance increases as BTC hits its high at $35,500

Bitcoin dominance increases as the BTC hit its high at $35,500, while altcoins continue to struggle.

While bitcoin has not continued to rise after its $35,500 intraday high, its hold on the market has increased further. This is because most altcoins have stagnated, except for Dogecoin, which has increased by double digits.

BTC domain on the rise

After the midweek crisis, in which bitcoin dropped below $30,000 for the first time since January, asset performance has calmed. He recovered most of the losses and reached US$ 35,000 the next day, but he was unable to continue rising as informed .

The bears took south to about $32,000, but the trajectory quickly reversed in the next few hours. The BTC started to climb again and added over $3,000 in value.

As a result, it peaked in four days of approximately $35,500. Despite having lost more than a thousand since then, its hold on the market has really increased.

The metric that compares the market capitalization of BTC to all other cryptocurrencies is up to 47%.

Stagnant Alts As DOGE Rises

Most alternative currencies remained stagnant on a 24-hour scale. Although Ethereum has recovered from its most violent stages of the accident, it has not yet decisively surpassed $2,000. As a result, ETH trades north of $1,900 for the second consecutive day.

Binance Coin has risen further in the last 24 hours and even surpassed $310 at one point, but has since backtracked and is currently around $290. Cardano, Polkadot, Bitcoin Cash and Chainlink are slightly in the red since yesterday.

In contrast, Ripple, Uniswap, Litecoin and Solana posted smaller gains. Dogecoin has the most impressive performance, yet again, of the largest capitalization companies, after increasing 10% to $0.26.

Overview of the cryptocurrency market. Source: Quantify Crypto

Celo (20%) rose the most, followed by Nano (16%), Siacoin (12%), THORChain (12%), Curve DAO Token (11%) and Waves (10%).

Klaytn has lost the most since yesterday, after a 14% drop. However, the cumulative market capitalization of all cryptocurrency assets remained timid at $1.4 trillion.

Source: CryptoPotato

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