• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Crypto Market Wrap: Altcoins Retreating as Bitcoin Dominance Reaches 56%

Martin Young by Martin Young
2 years ago
in Bitcoin, Cryptocurrency news, Market Wrap
Reading Time: 2min read
Crypto Market Wrap: Quick Recovery From $3 Billion Dump, Chance For Further Gains?
Advertisement
Nexo Logo
Listen to Article
Crypto markets cool off on Monday; Litecoin, Cardano, Monero and Cosmos dropping back, Bitcoin dominance climbing.

Market Wrap

Crypto markets are starting to pull back this Monday morning and altcoins are taking the brunt of the losses. Total market capitalization has declined back to the $180 billion area but does not look like falling further for the time being.

Bitcoin has spent the best part of the past 24 hours at around $5,800. It dumped a few hours ago back to $5,670 before slowly climbing back up and over $5,700 where it currently trades. Volume is over $14 billion and BTC market cap remains above $100 billion. Bitcoin has also hit a new seven month high in terms of market dominance which is a fraction below 56 percent.

Ethereum has weakened again and fallen back towards support at $160, dropping almost 2 percent on the day. ETH prices have been gradually grinding up for the past three months but progress is painfully slow and is likely to be until there are so big fundamental developments for ETH.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

There is no green to be seen on the crypto boards during Asian trading this morning. Altcoins are beating a retreat and Litecoin appears to be leading them. LTC has dumped over 5 percent on the day falling back to $73 as it jockeys for fifth place with EOS which has dumped almost 4 percent. Cardano is also 4 percent adrift at the moment while BCH and BNB have lost almost 3 percent.

The top twenty is all red with Cosmos losing over 7 percent of its recent gains. Monero, IOTA, Ethereum Classic and NEO are all dumping 4 – 5 percent at the moment and only Dash has remained flat on the day.

FOMO: Aeternity Spikes

Today’s fomo pump is going on at Aeternity which has spike 6 percent over the past couple of hours. There does not appear to be anything fundamental driving this Ethereum competitor so AE could well see a dump tomorrow. There are no other major movements going on right now but Horizen has steadily marched up all week adding a further 4 percent today and NULS has entered the top one hundred with a 3 percent gain.

Maximine Coin is still getting trounced with a 15 percent loss over the past 24 hours. DigixDAO has also fallen back below $30 with a loss of 11 percent and Cosmos rounds out the worst three performing altcoins at the time of writing.

Total market cap 24 hours. Coinmarketcap.com

Total crypto market capitalization has declined by $5 billion since the same time yesterday. It is now back to $180 billion and still within the trading range reached early last month. Markets hit a five month high over the weekend so today’s correction is simply that, more consolidation is on the cards for now.

Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

Tags: altcoinsbitcoinCosmosdominanceLitecoin
TweetShare
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
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.

Related Posts

bitcoin dark web monero

Why The Dark Net’s Most Active Market Ditched Bitcoin For Monero

1 day ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Reclaims $40,000 as Powell Rubbishes Taper Tantrum Woes

1 day ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Logs Revenge Recovery as Lagarde Calls for Global Regulation

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Flickers Near $35,000 as Bond Yields Drop; A Detailed Outlook

3 days ago
bitcoin bar new york

Landmark Real Estate Listing Offers Two New York Bars For 25 Bitcoin

3 days ago
huobi, ruble

Huobi Now Supports RUB Deposits and Withdrawals, Announces Crypto Purchase Campaign

4 days 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.

COMPANY

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

Technical Analysis

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

LINKS

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 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.