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Bitcoin Stays Below $30k As Bitcoin Dominance Drops To 48%

Twitter icon  •  Published il y a 9 mois  •  Hassan Maishera

Bitcoin continues to trade below the $30k threshold as Bitcoin’s market dominance drops to 48% following altcoins’ rally earlier this week.

TL;DR

  • Bitcoin has been struggling to maintain its value around the $30k mark in recent days.

  • Bitcoin’s market dominance has dropped to 48% as altcoins gain market share.

Bitcoin Struggles To Push Above $30k

Bitcoin, the world’s largest cryptocurrency by market cap, has been underperforming in recent days. The cryptocurrency has been struggling to maintain its value above the $30k mark and could experience further downward movement in the coming days or weeks.

At press time, the price of Bitcoin stands at $29,810, down by roughly 1% in the last 24 hours. The poor performance comes as investors pushed to altcoins in recent days.

Over the past few days, various altcoins, including LINK, XRP, and XLM have rallied by more than 30%, outperforming Bitcoin in the process. 

Thanks to the recent rally by altcoins, Bitcoin’s market dominance has dropped to 48%. This means that Bitcoin accounts for 48% of the total cryptocurrency market cap.

After its rally yesterday, LINK, the native coin of Chainlink, is starting to retrace. LINK is trading at $8.11 per coin, down from the high of $8.335 recorded yesterday.

The total cryptocurrency market cap remains at $1.2 trillion, down by 0.3% in the last 24 hours.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.