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Bitcoin Dominance Dives To Lowest In Years, Altcoin Season Is Finally Here

Bitcoin price was rejected from above $55,000 and is now back to sinking lower. Meanwhile, altcoins like Ethereum continue to climb complete unaffected by the leading cryptocurrency by market cap. The recent divergence between the top dog and the rest of altcoins, has resulted in Bitcoin dominance taking a nosedive to levels not seen since 2017 and 2018. Could this be the official start of altcoin season before the market cycle starts all over again? BTC Dominance Returns To Levels Not Seen Since Last Crypto Bull Market It has been more than 1000 days that have passed since the last…

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BTC Dominance Plummets To 50% For The First Time In About 3 Years

The BTC dominance plummets to 50% for the first time in about 33 months as its market share took a beating over the past month so let’s read more in our latest bitcoin news today. According to the data from Tradingview, the BTC Dominance plummets to 50% marking the lowest point since 2018 ago. At the time of writing, it has recovered to 51.48%. The two-month consolidation period around 62% level ended in March when altcoins started taking off. At that time, its dominance fell over the entire month of April and shed about 12% to the current level. The…

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Bitcoin’s Market Dominance Slides to 50%, While Ethereum’s Valuation Climbs Higher

Bitcoin dominance, the metric that measures bitcoin’s overall market capitalization against all the other crypto asset valuations have dropped considerably in recent weeks. At the end of February, bitcoin dominance levels started sliding downward from 61% to today’s 50%. Meanwhile, from the same point in time ethereum’s market capitalization has increased from 11.8% to today’s 14.5%. Bitcoin Dominance Sinks to 50% Ever since the birth of alternative crypto assets, people have used a metric called bitcoin (BTC) dominance, a measurement that records BTC’s entire capitalization against all the market capitalizations held by other coins. Interestingly, minus a few small dips,…

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How Bitcoin Dominance Bullish Engulfing Could Signal An End To Altcoin Season

Bitcoin price is diving currently, shaking up the crypto market as a whole. In addition to the correction in the top cryptocurrency by market cap, altcoins have taken an even more severe beating. With top alts like Ethereum and Litecoin are seeing an even further drop on BTC trading pairs, Bitcoin dominance has formed a bullish engulfing candle just as a key technical indicator reach overheated status. Here’s how that could put an abrupt end to the ongoing altcoin season. Bitcoin Price Drop Causes Altcoins To Flop Bitcoin is the first ever cryptocurrency that an entire industry was built from…

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Crypto Economy Nears $2 Trillion, XRP Gains 37%, BTC Dominance Drops to 56%

Digital currency markets have seen some significant gains on Monday as the entire market capitalization of all 8,500+ cryptocurrencies in existence has jumped a few percentages. Bitcoin’s price has spiked a touch over 1.5%, but a number of other coins have seen much larger gains during Monday’s trading sessions. Market aggregators show the crypto economy’s overall valuation is steadily approaching the $2 trillion handle. Crypto-Economy Jumps 3% and Nears $2 Trillion in Valuation Crypto assets have seen their values jump northbound on Monday as the entire crypto-economy has spiked 3% during the morning trading sessions (EST). Bitcoin (BTC) has risen…

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Bitcoin’s Dominance Falls To 7-Month Low As Altcoins Surge

Bitcoin’s dominance falls to a 7-month low while we saw a crash in the BTC price of 10% in one day. This week, however, everything is different and the market is entering green pastures as we can see more in our latest BTC news. Bitcoin’s price is back where it was before the crash but it wasn’t able to recapture its former all-time high that was set a few weeks ago. BTC is now valued at $59,669 and with that said, the market dominance is at a seven-month low. Bitcoin’s dominance falls to a 7-month low as it was 72%…

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Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining

The rapid growth of decentralized finance (defi) protocols is contributing to the increasing proportion of ETH supply that is now locked in smart contracts. More than 15% of the total ETH supply is now locked, compared to 11.5% from a year ago. This growth led to the inevitable decline of BTC dominance. According to a report, over 5% of ETH is locked up in the WETH (wrapped ether) smart contracts, enabling it to interact with other tokens more easily. Most of this WETH has then been locked up in defi contracts, including Maker, Uniswap, and Balancer. The report also notes…

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Here’s Why Altcoins Are “In Trouble” Despite Bitcoin’s Bullish Behavior

Bitcoin price today smashed back above $11,000 and is attempting to hold currently. The incredibly bullish price action following a retest of resistance turned support could have given bulls the confidence to push the crypto asset’s price much higher. But as bullish momentum builds in Bitcoin, altcoins have turned bearish. According to one crypto analyst, alts are “in trouble” no matter which direction the first-ever cryptocurrency heads next. Analyst: Bitcoin Is Bullish But Is Ready To ‘Rekt’ Alts Whatever Route It Takes Bitcoin has been the best-performing mainstream asset of 2020, beating out stocks, gold, and just about everything else.…

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How One Line In Bitcoin Dominance Is Standing In The Way Of Alt Season

Bitcoin price may have just held and confirmed a critical bullish retest of $10,000 and “meme” downtrend resistance from all-time high. After such a bullish confirmation the leading cryptocurrency by market cap could soon soar. And if it does, BTC dominance could be signaling that altcoins are going to bleed out and into Bitcoin in the months ahead. But it all hinges on one line holding, which if lost, could send the crypto market into a full-blown alt season instead. BTCUSD Monthly Bullish Retest Holding Strong | Source: TradingView Bitcoin Holds Crucial Level, Will Capital Flow From Altcoins Into The…

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Bitcoin Dominance Readies Deadly Blow Against Altcoins, Indicator Says

Bitcoin is up over 70% year to date and its recent break through resistance at $10,000 helped propel altcoins toward even stronger ROI. Several altcoins are up well over a few hundred percent, beating out the first-ever cryptocurrency by a wide margin. This all could soon reverse according to a handful of signals on BTC dominance charts, causing Bitcoin to vastly outperform the rest of the crypto market. Altcoins Outperform Bitcoin in 2020 After Last Year’s Crypto Market Capitulation Bitcoin is the first-ever cryptocurrency and anything that came after it is considered an altcoin, or a stablecoin. Stablecoins are backed…

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Approach Altcoins With Caution: Bitcoin Dominance Paints Foreboding Pattern

Following Bitcoin’s big breakout weeks ago, altcoins have been rallying left and right. Several majors, mid, and small-cap altcoins have outperformed the first-ever cryptocurrency by a large margin. All that may soon turn around, however, according to a foreboding bottoming pattern that may be forming on BTC dominance charts. If the pattern confirms, altcoins are in for another major collapse at the hands of Bitcoin. Adam and Eve Bottom On BTC Dominance Could Deal Altcoins A Crushing Blow BTC dominance is a metric used to weigh Bitcoin against all other altcoins in the cryptocurrency space. However, crypto analysts often use…

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Altcoin Market Watch: Coins Rise As BTC Dominance Taps Yearly Lows

Looking at the Altcoin market watch we can see that the coins are shooting up in price while Bitcoin’s dominance taps a yearly low and the price dropped by $1600. Some of the altcoins are taking advantage of the BTC price movement as we are reading more in the upcoming altcoin news. Following the crazy weekend ride in the crypto market, the situation seems less volatile among the larger-cap assets. Bitcoin returned to $11,200 while ETH hovers above $380. However, some lower cap-altcoins are displaying high fluctuations again as we are looking at the altcoin market watch data. The weekend…

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After Parabolic Rally, Altcoins May Soon Retrace Against Bitcoin: Indicator

Bitcoin dominance has been plummeting recently letting altcoins have their time in the crypto market spotlight for a change. But as altcoins begin to correct, BTC dominance is signaling that the asset is about to recover from the altcoin market’s rally against it. What does this mean for Bitcoin, and how will certain altcoins withstand the coming blow to their market share from BTC dominance? BTC Dominance Signals Buy, Potential Bull Flag Formation Could Wreck Alts BTC dominance is a metric that weighs the first-ever cryptocurrency against the rest of the market. Because it started off the entire industry and…

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