Bitcoin Dominance on the Rise as Altcoins Retreat Ahead of CPI: Market Watch

Some of the biggest losers over the past 24 hours include TIA, M, CRV, and RENDER. Although bitcoin’s price has remained relatively sluggish on a 24-hour scale, without any significant moves in either direction, its dominance over the alts has risen to 60% on CMC. The reason for this is that most alts are still in the red, especially the mid-cap ones. BTC Dominance Reaches 60% BTC was rejected at $87,000 on a couple of occasions at the start of the previous business week, and the second was particularly painful as it began a more profound leg down. It culminated on Thursday evening when the asset slumped to $80,400 to mark a multi-week low. After losing nearly $7,000 in about 72 hours, the cryptocurrency finally rebounded and tapped $83,000 during the weekend. It remained there for the next 36 hours and even challenged $84,400 on Monday morning. Another rejection followed, though, and the bears seemed in complete control on Tuesday morning when they drove bitcoin to just under $81,000 once again. Nevertheless, there were two positive outcomes: first, BTC rebounded just as quickly to over $83,000; second, it marked a higher low, which is typically considered a bullish signal. Since ...