Home Bitcoin News Bitcoin dominance on the rise – the rate is again $56,000

Bitcoin dominance on the rise – the rate is again $56,000

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Crypto News

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Bitcoin rose again to $ 56 thousand, but did not stay at this mark. However, the dominance of BTC over altos has increased even more.

After yesterday’s price drop below $ 54,000, Bitcoin began to rise in price again and approached $ 56,000. Although some altcoins, such as XRP and DOT, have shown noticeable gains over the past 24 hours, BTC dominance has also increased.

Bitcoin is aiming for 56 thousand dollars

The flagship cryptocurrency exceeded the $50,000 mark on October 5 and is not going to retreat. On the contrary, it was mostly on the offensive, resulting in $56,000 being received a few days ago for the first time in about five months.

Bitcoin dominance on the rise the rate is again

However, a break above this level turned out to be more difficult than expected, as the bears intercepted the movement and pushed BTC south. As a result, Bitcoin dropped by several thousand dollars and dropped below $54,000.

The situation has changed again in the last 24 hours. Instead of falling further south, BTC started to rise in price again and reached $56,000 just a few hours ago.

However, as it happened last time, it could not continue moving up and rolled back several hundred dollars. However, it is still up more than 1.5% on the day and is close to its $56,000 barrier.

The market capitalization of Bitcoin is 1.050 trillion dollars, while the dominance over altcoins has reached 45%, as most of them have fallen further behind their leader.

XRP and DOT soared by incredible numbers

As mentioned above, most alternative coins have stalled against their leader over the past few days. They are also insensitive to the dollar. Ethereum, for example, could not hold above $3,600, and a slight 24-hour drop led to it dropping below the mark again.

1633866995 711 Bitcoin dominance on the rise the rate is again

Cardano and Dogecoin showed a slight increase, while Binance Coin, Solana, Terra and Avalanche are in a slight minus.

On the contrary, Ripple and Polkadot have shown impressive growth since yesterday. XRP rose 10% to $1.18, while DOT rose 8% to exceed $35.

The most significant price increase since yesterday is Stacks. A 38% increase led to the STX exceeding $2. Klaytn (11%), Qtum (10%) and IOTA (7%) follow suit.

The capitalization of the cryptocurrency market also increased slightly during the day and currently stands at $2.330 trillion.




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