Bitcoin Dominance Rises as BTC Price Calms at $84K (Market Watch)

Bitcoin’s price went on a volatile ride yesterday, which even included a flash crash by three grand on certain exchanges, but has remained at around $84,000 now.

The altcoins are slightly in the red, aside from CRO and EOS, as both have charted impressive gains once again.

BTC Dominance on the Rise

The primary cryptocurrency had a good run last week when its price shot up to $88,800 to mark a multi-week peak. However, it couldn’t penetrate that level and started to lose value gradually in the next few days. The situation worsened on Friday when BTC’s floor gave in and the asset dropped to $81,600.

It managed to recover some ground during the weekend, but that was short-lived. The start of the current business week was also painful, with a price drop to a weekly low of $81,200.

The bulls finally stepped up at this point and didn’t allow a further breakdown below $80,000. In fact, BTC started to gain traction and jumped beyond $85,000 for the first time since Friday.

Interestingly, data from Bitstamp shows that bitcoin flash-crashed to $81,200, while the same cannot be found on other exchanges, like Binance. Nevertheless, BTC’s current price is just over $84,000, and its market cap stands tall at $1.670 trillion.

The asset’s dominance over the alts is on the rise again by nearing 60%, which is more than 1.5% higher than the numbers from last week.

BTCUSD. Source: TradingView

CRO, EOS Shoot Up

Most altcois have turned red on a daily scale after yesterday’s impressive gains. BNB, SOL, TON, LINK, DOE, ADA, and XRP are all with minor losses. SHIB has dropped the most from the larger-cap alts.

In contrast, EOS and CRO have emerged as today’s top performers. EOS has jumped by double digits (20%) and trades above $0.8, while CRO is up by 7.5% and sits north of $0.105.

The total crypto market cap has shed about $40 billion since yesterday and is down to $2.8 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto