In this world where only the strongest survive or, more precisely, the best-observed by smug institutional giants, the old king—Bitcoin—watches over the trembling crypto peasants, swelling with yet more power. Altcoins, fragile as empty tin cans in the wind! The masses watch, hoping for mercy—none comes.
BTC Price Steady at $94K but Market Dominance Climbs Over 65%
Bitcoin (BTC), stubborn and smug, now gobbles more than 65% of the $2.93 trillion crypto bazaar, according to Coinmarketcap and Tradingview. Tuesday arrived, found BTC loafing at $94K, not even twitching—what a show-off!
BTC waddled up about 0.30% in 24 hours—hardly a leap, more a lazy shuffle—while the top-ten altcoins trip over themselves, picking up breadcrumbs (yes, stablecoins, you’re stable—congrats 🥱). Apparently, big money and lackluster competition hand Bitcoin its latest crown on a rusty platter.
In the gutter nearby, the would-be prince Ether (ETH) is down about 43% year-over-year (ouch, that hurts, but not as much as the memes about it). The ETH/BTC ratio slumps to a 5-year low. You need more and more BTC just to get one sad, skinny ETH— like exchanging your coat for a single potato. When Bitcoin flexes, Ether winces.
Yet! When the old king gets too fat and careless, the people whisper about revolts. Chart analysts mutter that once Bitcoin dominance bloats beyond reason, the altcoins—those wild children—become such bargains even the crows take notice. Someone starts buying, the rest follow, soon it’s a bull-run buffet and Bitcoin’s high horse gets kicked right from under it. The dance continues, as ever—carousels don’t stop for tired legs.
“BTC dominance might be peaking; then maybe, just maybe, the altcoins will crawl back to relevance,” wheezed analyst Ijaz Awan in a post on X, where dreams go to bite the digital dust.
Market Metrics—Heroic Struggle and Dull Numbers
Bitcoin, hero of the cyber-proletariat, eked out a 0.30% gain in 24 hours, clambering up to $94,562.34, swinging in its little price hammock between $93,399.86 and $95,193.19. Not much action for a revolution, but try telling that to the YouTube influencers. Meanwhile, over seven days BTC is down a whopping 0.60%—someone call the poets, tragedy is unfolding!
The rabble is restless: trading volume jumps 14.55% to $22.62 billion, like a vodka-fueled night at the shipyard. Bitcoin’s market cap grows 0.32% to $1.87 trillion—enough to make even the czars jealous. As mentioned, BTC’s iron fist tightens, up 0.40% in dominance to 65.10%; meanwhile, the altcoins pout in their dusty corners.
On the wild and lawless frontier of derivatives, BTC futures open interest fell by 1.05% to $62.62 billion—somebody lost their nerve, probably after too much tea 🍵. Coinglass data shows total liquidations at $545,400 in just 24 hours, mostly long positions: $365,370 torched, while only $180,030 in shorts got singed. All’s fair in love, war, and crypto wreckage, comrades.
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2025-05-06 22:14