Bitcoin’s dominance continues to decline amid recent price movements.
Bitcoin saw another decline yesterday and earlier this morning, falling to a new multi-month low of just over $65,000 before seeing a slight rebound.
Although there were a few altcoins that suffered double-digit losses today, there are more with similar gains that challenged the overall market condition.
BTC bounces from $65.3K
After losing the $80,000 support level at the end of May, the underlying cryptocurrency only went on a multi-day downward journey. It initially fell to $76,000, but the bears were just getting started and drove it south to below $73,000 as the month came to a close.
He managed to rise slightly to $74,000, where another rejection was waiting for him. The collapse that occurred at the beginning of June was more profound. This time, the bears pushed Bitcoin below $70,000 yesterday Keep the pressure on For several more hours. this reached its climax Earlier this morning with the price falling to $65,300, which became BTC’s lowest trading level in almost two months.
The bulls finally stepped in at this point and did not allow another drop. Bitcoin has recovered nearly $2,000 since the local low, and is now around $67,000, but critics are still holding on. convinced BTC could fall as low as $20,000 if the $50,000 support is lost.
Currently, Bitcoin’s market cap remains at $1.350 trillion, while its dominance over altcoins It continues to decline Down to well below 56% on CG now.
These alternative missiles
As mentioned above, red continues to dominate most alternative charts. ETH price fell below $1,900 after a roughly 5% decline on a daily scale. SOL fell to $75 after a similar decline. XRP celebrated its 14th birthday with a new low yesterday to $1.20 before rebounding to $1.24 as of now.
BNB is deep in the red, like BCH, DOGE and most H, which is down 11%. In contrast, DEXE and ENA prices rose more than 20% daily, followed by ONDO, WLD and VVV, all of which complete the club of double-digit price gains.
The total cryptocurrency market cap fell below $2.350 trillion earlier today, but stands at $2.4 trillion on CG now.
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