Oh, the travesty! Bitcoin’s dominance, that most sacred of metrics, has plummeted to a four-month low, as the alts, those mischievous upstarts, have taken to the stage with a flourish.
Bitcoin Flatlines While Altcoins Gain Ground 🎭
Perhaps altcoin season is upon us. That’s what the numbers seem to imply as Bitcoin dominance dropped to its lowest level since March while altcoins such as ether (ETH) and XRP took off with double-digit gains, siphoning market share from the dominant cryptocurrency. One might say they’ve been rather cheeky about it. 🤭
Ether and XRP are currently the second and third largest coins after BTC respectively, and both have surged in price over the past two days. Ether’s 7-day performance has been roughly 21% and XRP has appreciated nearly 24% for the week, according to data from Coinmarketcap. Bitcoin returned a meager 0.45% over the same period—a figure so unimpressive it would make a dachshund weep. 😢
Ironically, it was Bitcoin that sparked what appears to be the beginning of an altcoin rally. BTC surged to $123,091.61 on Monday, a new all-time high, before traders and investors rushed in to take profits. Bitcoin dominance had been around 64.76% at the time, but after BTC slid below $118K from the selling pressure, investors sunk their capital into alts and lobbed off a 3% chunk from the cryptocurrency’s market cap, which now stands at 61.60% at the time of writing according to Trading View, its lowest level in nearly four months. A most lamentable state of affairs. 🙃
Overview of Market Metrics
Bitcoin was trading at $117,978.73 at the time of reporting, slightly down by 0.45% since yesterday, but with a small 0.53% gain for the week. The digital asset has been trading between $117,453.24 and $120,999.61 over the past day. A rollercoaster, if you will, though one that lacks the thrill of a proper carnival ride. 🎢
Twenty-four-hour trading volume fell to $58.68 billion, a 12.4% decrease. The cryptocurrency’s market capitalization also edged lower by 0.57% and stood at $2.34 trillion at the time of writing. But BTC dominance has been the key metric to watch for the past couple of days. It tumbled by more than a full percentage point over 24 hours, dropping 1.02% to 61.60%. A most unseemly decline, if you ask me. 🤡
Total open interest for BTC futures fell 1.34% to $85.71 billion since yesterday, according to Coinglass. Bitcoin liquidations for the past 24 hours jumped to $169.31 million as bulls saw $111.87 million wiped out while short position liquidations totaled $54.77 million. A veritable bloodbath, one might say. 🩸
Read More
- Who Is Harley Wallace? The Heartbreaking Truth Behind Bring Her Back’s Dedication
- 50 Ankle Break & Score Sound ID Codes for Basketball Zero
- Lost Sword Tier List & Reroll Guide [RELEASE]
- 50 Goal Sound ID Codes for Blue Lock Rivals
- Basketball Zero Boombox & Music ID Codes – Roblox
- Summer Games Done Quick 2025: How To Watch SGDQ And Schedule
- 100 Most-Watched TV Series of 2024-25 Across Streaming, Broadcast and Cable: ‘Squid Game’ Leads This Season’s Rankers
- The best Easter eggs in Jurassic World Rebirth, including callbacks to Jurassic Park
- League of Legends MSI 2025: Full schedule, qualified teams & more
- TikToker goes viral with world’s “most expensive” 24k gold Labubu
2025-07-18 21:32