• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
Bitcoin (BTC)
Sensei Inu Logo

Bitcoin Reaches One-Month High As Mini Bull Run Continues

Samuel Edyme by Samuel Edyme
9 months ago
in Bitcoin
Reading Time: 3 mins read

The crypto market has evolved from the unending devastating bear market to a more green and overwhelming market. Cryptocurrencies are moving from the initial stagnant, and lower lows state to a rallying to the top. 

Among the number of cryptocurrencies moving upward and making significant higher highs is Bitcoin, the largest crypto by market cap. So far, Bitcoin has broken multiple resistance and continued in a bullish trend carrying the whole crypto market with it. 

Bitcoin Taps Above $17,000 For The First Time In One Month

Since the FTX crash happened and the bear market deepened, we saw Bitcoin crashing to lower lows and slipping below the 17,000 zones. After it fell below that, Bitcoin stayed there for a long while. However, over the past few weeks since the new year began, the Bitcoin market has been making some positive moves.

BTCUSDT price chart on TradingView
BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

After ranging around the $16,000 zone from late last year, Bitcoin tapped into and above $17,000 for the first in almost a month, trading at $17,500. Tuesday was when BTC made a significant move of about 1.5%, the highest daily gain since December 20, 2022. 

Related Reading: Bullish Signal: Bitcoin Whales Go On 20,000 BTC Buying Spree

And since Bitcoin tapped into the $17,000 zone, the coin hasn’t budged or even fallen out of that zone. However, it has lost a couple of hundred dollars and now trades at $17,409 at the time of writing. Despite the retrace, its market capitalization is still above $335 billion, which is higher than the market cap seen on BTC late last year. 

BTC Begins To Lose Dominance 

Though Bitcoin is still considered the big dog among cryptocurrencies, it’s beginning to lose its dominance against altcoins in the crypto space as whale investors have registered low participation in the BTC market. According to the on-chain analytics platform CryptoQuant, altcoin trading volume dominance is now above 50% as opposed to Bitcoin’s 39% dominance.

CryptoQuant Bitcoin crypto market Dominance
Bitcoin crypto market dominance over time. Source: CryptoQuant

Maartunn, a contributor to CryptoQuant, wrote in a blog post, “Usually when traders get bored on BTC, they start trading altcoins which are, in general, further on the risk curve. This makes them very fragile and easy to squeeze.” He added, “altcoin dominance is again above 50%. Be aware: when altcoins continue to dominate, there is a potential risk for further downside,” he added.

BTCUSD 30 Day Volatility
BTCUSD 30-Day Volatility | Source: Arcane Research

Furthermore, according to a recent report from Arcane Research, BTC’s 30-day volatility has plummeted to June 2020 levels as the asset has been trading relatively flat with low volatility through the first 10 days of 2023, making it even more stable than gold, the dollar strength index, Nasdaq, and the S&P500 measured through 5-day volatility.

Related Reading: Analysts Recommend: Bitcoin (BTC), Cardano (ADA), and Orbeon Protocol (ORBN)

Meanwhile, with altcoins gaining more dominance, large investors are now turning to assets other than BTC. Ethereum (ETH), Cardano (ADA), Polygon (MATIC), and Solana (SOL) have made significant moves over the past 7 days, with three of them up by over 50% combined.

Featured image from Unsplash, Chart from TradingView.com
Tags: altcoinbitcoinbtccryptocurrency
Tweet123Share196ShareSend
Samuel Edyme

Samuel Edyme

Edyme is a Web3 writer and journalist. A mysterious figure in the world of crypto, a writer who has explored every aspect of the blockchain. Some say he's a trader, others claim he's a hacker. His writing is like a key to unlocking the secrets of the crypto world, and his words can move markets. Edyme's stories are like cryptographic puzzles, waiting to be solved. But who is he really? Some speculate that he's hiding behind a pseudonym, like the legendary Satoshi Nakamoto himself.

Related Posts

Spot Bitcoin ETF

Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved

6 hours ago
Bitcoin price predictions 2024

Bitcoin Price Predictions For 2024: Insights From Major Banks To Hedge Funds

7 hours ago
Bitcoin price

Crypto Analyst Says Prepare For 100% Increase In Bitcoin Price As Historical Pattern Forms

1 day ago
Bitcoin price

Will Bitcoin Drop To $20,000? EURUSD Correlation Indicates It Might

1 day ago
Bitcoin

New Bitcoin Prediction: Analyst Backs BTC To Reach $34,500 In 2024

3 days ago
Bitcoin

Bitcoin Enjoys Growing Favorable Conditions, Top Analyst Says

5 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Solana Remains Stable, Bitcoin Cash, and Borroe.Finance...

    1 hour ago
  • Best Trading Sessions in Nigeria Time According to Analysts

    5 hours ago
  • Cosmos and Axie Infinity Holders Accumulating Kangamoon...

    6 hours ago
  • Eureka Partners Fortifies Its Stance in Blockchain and...

    7 hours ago
  • Imagine Buying Bitcoin at 20 cents! Gold Coin on the rise

    7 hours ago

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.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.