Bitcoin surpasses $ 9.500 as dominance increases and other cryptocurrencies suffer
Bitcoin had a very lucrative few days of trading as its price increased by approximately $ 1.000 since it was performed the halving. However, as it surpassed $ 9.500 today and its dominance increased, large-cap altcoins continue to suffer and fail to claim serious ground.
At the time of writing, the price of Bitcoin is breaking above $ 9.655 and hitting a daily high of $ 9.945 in Bitstamp. The cryptocurrency started putting a lot of pressure last night as it lowered major resistance levels along the way. The first to break through was the resistance in the range between $ 9.130 and $ 9.200.
- Multifunctional hardware wallet for easy cryptographic security, storage and use
- Two-button control panel interface for secure access to digital assets
- Compact and lightweight design, easy to handle and use on the go
- Create and store keys offline and security protects against hackers and malware
- Advanced security features include PIN and passphrase
Bitcoin solidifies in the market
It is currently trading above the resistance area between $ 9.600 and $ 9.700 and if BTC manages to close a few consecutive hourly candles above it and turn it into support, the next strong resistance is $ 9.900.
Bitcoin's dominance has also increased to about 67.9%, which means that its relative share of the entire market is strengthening. In the few days since it was made, the entire market managed to add about $ 26 billion to its capitalization, which is now $ 257 billion.
While Bitcoin continues to break new ground, large-cap altcoins are not having the best time of their life. Although some of them are marking slight increases in the range between 1% and 3% against the US dollar, they are seriously failing against Bitcoin. In the last 24 hours alone, the entire market is in the red against BTC. Ethereum is down 1,7%, XRP is down 4,25%, while Bitcoin Cash and Bitcoin SV are also down by more than 4% each.
It is safe to say that we are not close to an altcoin season. However, many analysts speculate that if Bitcoin establishes a trading range between $ 8.900 and $ 9.400 over the next two weeks, the altcoins will be able to regain strength and begin to explode. However, at this time, BTC shows no signs of slowing down.
