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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-dominance-rises-as-altcoins-decline/" data-wpel-link="internal">Bitcoin Dominance Rises as Altcoins Decline</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoin-price-surges-as-demand-soars-coinshares-report/" data-wpel-link="internal">Cryptocurrency</a></strong> markets have seen a sharp decline, after which <a href="https://coin-turk.com/yillara-gore-bitcoin-grafigi-ocak-aylarinda-nasil-performans-gosterdi" data-wpel-link="internal">Bitcoin</a> (<a href="https://en.coin-turk.com/bitcoin-investors-face-losses-amid-market-turbulence/" data-wpel-link="internal">BTC</a>) dominance began to increase over the past few days. The recent rise in <a href="https://en.coin-turk.com/crypto-analyst-michael-van-de-poppe-highlights-critical-week-for-bitcoin/" data-wpel-link="internal">Bitcoin</a> dominance is not a result of a BTC bull rally, but rather due to the decline of altcoins.</p> 
<h2 id="momentum-declines-in-bitcoin">Momentum Declines in Bitcoin</h2> 
<p style="text-align: justify">According to data from 21milyon.com, the price of BTC has fallen more than 5% in the last seven days, pushing its price below $63,000. In fact, BTC saw a 2% decrease in just the last 24 hours. At the time of writing, it was trading at $62,369.67 with a market value of over $1.22 trillion.</p> 
<p style="text-align: justify">However, the decline is not limited to BTC alone. <strong>Ethereum (ETH)</strong> and many other <a href="https://coin-turk.com/2022-yilinda-firlamasi-beklenen-3-altcoin-uzman-analistlerin-kripto-portfoyu" data-wpel-link="internal">altcoins</a> also witnessed price corrections. The general decline in altcoin market value enabled Bitcoin’s dominance to rise again after a sharp drop on April 28. At the time of writing, Bitcoin’s dominance was 50.9%. The selling pressure on BTC decreased in the last few hours as exchange reserves diminished.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-346117 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/bitcoi-1.jpg" alt="" width="1342" height="513"></p> 
<h2 id="exchange-reserves-in-bitcoin">Exchange Reserves in Bitcoin</h2> 
<p style="text-align: justify">Additionally, net deposits on exchanges remained low compared to the seven-day average. According to CryptoQuant’s data, miners also sold at a slower pace, which might indicate their willingness to hold onto their BTC. The increase in buying pressure and investors’ desire to hold BTC could trigger a reversal in the trend, potentially leading to a rise in BTC charts.</p> 
<p style="text-align: justify">Experts’ analyses indicate that Bitcoin’s Chaikin Money Flow (CMF) recorded an increase and was valued at 0.08 at the time of writing. Bitcoin’s Money Flow Index (MFI) also showed a similar upward trend. These technical indicators were pointing to potential price increases in the coming days. However, the Relative Strength Index (RSI) recorded a decline, continuing the downward trend. Additionally, analysts suggest that BTC’s price could first drop to the $61,000 support level in the near term.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-dominance-rises-as-altcoins-decline/" data-wpel-link="internal">Bitcoin Dominance Rises as Altcoins Decline</a></h5>

Bitcoin Dominance Rises as Altcoins Decline

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