NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Altcoins Rally as Bitcoin Dominance Drops Lower, Has Altseason Begun?

Martin Young
Martin Young
5 years ago
2 mins read
tech fomo

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In a rare scene today all of the altcoins are in the green and many are outperforming Bitcoin as dominance drops lower. The market share chart for the king of crypto has been showing signs of a pullback which of course is good news for the altcoins.

Bitcoin Reclaims $8k But Dominance Below 69%

Following a Monday dip into the high $7,000 level BTC bounced back yesterday to reclaim $8k and top out just over $8,300. Yet again resistance has proved to be too strong here and Bitcoin fell back below $8,200 where it currently trades within its two week range bound channel.

According to Tradingview.com BTC dominance has now dropped below 69% to a two month low.  It is clear from the following chart that a pullback period has begun and Bitcoin’s market share is likely to shrink further. The next support level in terms of dominance is 66%.

bitcoin
BTC dominance – tradingview.com

The failure of BTC bulls to break resistance has been good news for the altcoins, many of which are rallying well during Asian trading today.

Ethereum is currently out-performing its big brother with a 4% pump over the past 24 hours to top $180. ETH is still pretty weak in the grand scheme of things but recovery has to start somewhere and its market capitalization is almost back to $20 billion.

Chart guru Peter Brandt observed the ETH/BTC pair and how it is about to break out for Ethereum.

Bottoming construction in $ETHBTC $ETH pic.twitter.com/zbi0slEQzR

— Peter Brandt (@PeterLBrandt) October 7, 2019

Ethereum is unlikely to truly rally until it can retake the psychological $200 level without being dragged up by its big brother. The last time Bitcoin had dropped to $8k, in August 2018, ETH was priced at $400 so it still has a long way to go.

Ripple’s XRP has had a second strong day adding a further 3% to reach $0.275 but it too is way down from last year’s prices and has been one of the worst performing altcoins this year.

Bitcoin Cash has retaken fourth spot from Tether with a 3% move to reach $230 again but like those above it, BCH is still pretty weak still.

A 4% move for Litecoin wasn’t enough for it to retake $60 and it has been very lackluster since the halving two months ago which halved its price in addition to the perceived supply.

EOS is the top ten’s top performer with 5% on the day to reach $3.20 but it is still down over 60% from its 2019 high. Binance Coin made a similar 4% move to get to $16 but the exchange based token is also down 60% from this year’s peak.

Total market cap has increased by $8 billion since the weekend and it has been largely due to altcoins having a good start to the week. It could be the beginning of something bigger or just another minor blip in the ebb and flow of crypto markets.

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin

Dogecoin May Pause Above $0.27 Before Charging Toward $0.45 – Analyst

Dogecoin jumped back into the spotlight on Monday after fresh price calls from market commentators and a clear technical move...

Christian Encila 2 hours ago

Το Solana διασπά κρίσιμη αντίσταση – Νέος μεσοπρόθεσμος στόχος τα $362

Το Solana επιστρέφει στο προσκήνιο της αγοράς κρυπτονομισμάτων μετά από μια εντυπωσιακή άνοδο 20,89% σε μία εβδομάδα. Η τιμή του...

Ιωάννης Ριζόπουλος 3 hours ago
Crypto news

December 2024 Crypto Crash Signal Returns As Altcoins Go Wild

Crypto analyst Maartunn (@JA_Maartun) warned on September 14 that a familiar—and historically unfriendly—market pattern has reappeared: speculative leverage pouring into...

Jake Simmons 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

WLFI augimas ir Snorter Bot Token artėja prie $4 mln.

WLFI augimas ir Snorter Bot Token artėja prie $4 mln.

Tomas Jankūnas 38 minutes ago
Dogecoin price news

Dogecoin Bulls Eye $0.54 ‘Final Boss’ Breakout, Says Top Analyst

Jake Simmons 1 hour ago

Previsioni Ethereum: L’MVRV di ETH Raggiunge 1,97 — I Tori Riusciranno a Mantenere la Loro Posizione?

clararosati 1 hour ago

Premium Sponsors

Press Releases

  • Care criptomonedă să cumperi acum | Cele mai bune...

    56 minutes ago
  • Коя криптовалута да купим сега |...

    56 minutes ago
  • Aceste altcoinuri explodează în timp ce Bitcoin (BTC) testează din nou pragul de 113.000 de dolari Monitorizarea pieței

    Трите „вечни“ криптовалути...

    1 hour ago
  • 5 kryptomien, ktoré treba sledovať v októbri pre...

    1 hour ago
  • Cei mai buni altcoini de cumpărat înainte de decizia FED...

    1 hour ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.