bitcoin
Bitcoin (BTC) $ 64,967.41
ethereum
Ethereum (ETH) $ 3,168.43
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 568.60
xrp
XRP (XRP) $ 0.618171
cardano
Cardano (ADA) $ 0.394941
usd-coin
USDC (USDC) $ 1.00
matic-network
Polygon (MATIC) $ 0.498079
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.124612
okb
OKB (OKB) $ 39.48
polkadot
Polkadot (DOT) $ 5.74
shiba-inu
Shiba Inu (SHIB) $ 0.000016
tron
TRON (TRX) $ 0.135752
uniswap
Uniswap (UNI) $ 7.29
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 64,962.41
dai
Dai (DAI) $ 1.00
litecoin
Litecoin (LTC) $ 69.29
staked-ether
Lido Staked Ether (STETH) $ 3,168.04
solana
Solana (SOL) $ 170.73
avalanche-2
Avalanche (AVAX) $ 27.17
chainlink
Chainlink (LINK) $ 12.85
cosmos
Cosmos Hub (ATOM) $ 5.85
the-open-network
Toncoin (TON) $ 6.56
ethereum-classic
Ethereum Classic (ETC) $ 22.02
leo-token
LEO Token (LEO) $ 5.83
filecoin
Filecoin (FIL) $ 4.19
bitcoin-cash
Bitcoin Cash (BCH) $ 356.96
monero
Monero (XMR) $ 155.02
bitcoin
Bitcoin (BTC) $ 64,967.41
ethereum
Ethereum (ETH) $ 3,168.43
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 568.60
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.618171
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.124612
cardano
Cardano (ADA) $ 0.394941
solana
Solana (SOL) $ 170.73
matic-network
Polygon (MATIC) $ 0.498079
polkadot
Polkadot (DOT) $ 5.74
tron
TRON (TRX) $ 0.135752

Bitcoin Dominance Reaches 2-Year High, Exceeding 53%

Must Read

Disclosure: Crypto is a high-risk asset class. This text is offered for informational functions and doesn’t represent funding recommendation. Through the use of this web site, you comply with our phrases and situations. We could utilise affiliate hyperlinks inside our content material, and obtain fee.

Bitcoin’s share of the general crypto market capitalization, often known as the Bitcoin dominance, has reached a 2-year excessive at over 53%.

In keeping with information from TradingView, the Bitcoin (BTC) dominance has risen from 52% to over 53% over the previous week, after having traded as excessive as 54% in October and 55% earlier in December.

The Bitcoin dominance has elevated persistently all through 2023, and is now round ranges not seen since April 2021, the info confirmed.

In the meantime, the TradingView chart additionally confirmed that the uptrend for the Bitcoin dominance, which has been in place because the starting of the 12 months, nonetheless stays intact, with the dominance having traded properly above its 200-day shifting common all year long.

Bitcoin dominance chart

Bitcoin dominance chart. Supply: TradingView

Dangerous 12 months and bearish outlook for ETH/BTC

Previously, Bitcoin bull runs have tended to be accompanied by even stronger runs in altcoins, and maybe most prominently in Ethereum’s native token Ether (ETH).

This 12 months, nonetheless, the development seems to have modified in Bitcoin’s favor, with the ETH/BTC buying and selling pair shifting decrease and a few speculating that Solana (SOL) is taking up for ETH because the quickest horse on this market cycle.

The underperformance of ETH relative to BTC has prompted some merchants to tackle bearish bets, with the veteran dealer Peter Brandt saying publicly this week that he has shorted the asset.

“[…] if the rising wedge in Ethereum complies with the script, the goal is $1,000, then $650,” Brandt wrote on X on Monday.

Classical chart patterns in worth charts aren’t sacred – they fail to carry out in response to the textbooks on a regular basis

However, if the rising wedge in Ethereum $ETH complies with the script, the goal is $1,000, then $650

I shorted ETH on Friday — I’ve a protecting B/E cease pic.twitter.com/76CciT3PE5

— Peter Brandt (@PeterLBrandt) December 18, 2023

Since January this 12 months, ETH/BTC has fallen by greater than 28%, from 0.0723 BTC per ETH to 0.0516 as of this writing.

ETH/BTC price chart

ETH/BTC worth in 2023. Supply: TradingView

Over the identical time interval, Bitcoin’s worth in US greenback phrases is up by 167%, whereas Ether’s US greenback worth is up by 90%.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Bitcoin (BTC) Price Dips 7% as Ethereum ETF Hype Wanes

Bitcoin worth tumbled beneath the $64,000 mark on July 25, down 7% from the weekly timeframe peak of $68,477,...
- Advertisement -

More Articles Like This