Bitcoin's dominance keeps rising amid the latest price fluctuations.
Bitcoin went on a real rollercoaster yesterday by pumping to a local peak of $30,000 before dumping just as hard by $3,000.
Most altcoins followed suit with similar volatility but have now calmed slightly in the red on a daily scale.
Bitcoin’s Pump and Dump
The primary cryptocurrency rarely sits quietly in terms of price movements, which is why yesterday’s rollercoaster was to be expected to an extent. This is because the asset stood in a tight range between $27,000 and $28,000 for several consecutive days.
As of now, the cryptocurrency trades at around $29,000, which is still a minor increase compared to its price 24 hours ago. Its market cap still stands above $560 billion, and its dominance over the alts is close to 47% after gaining over 1% in the past few days.
Alts in Red Now
As it generally happens when BTC faces extreme volatility, so do the alternative coins. The run-up yesterday drove ETH from $1,800 to almost $2,000, but the subsequent rejection brought it back down to the former. Now that the dust has settled, at least momentarily, the second-largest crypto trades at $1,900.
Cardano is the only larger-cap alt well in the green on a daily scale, having jumped by 3%. In contrast, Binance Coin, Ripple, Dogecoin, Polygon, Solana, Polkadot, Litecoin, and Shiba Inu are with minor losses.
The total crypto market cap now remains at almost $1.2 trillion, despite going up and down by roughly $50 billion.