News Formal

Bitcoin Dominance Surges, Accounting For Nearly Half of The $1T Crypto Market, Amid Altcoin Selloff

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Bitcoin's dominance rate spiked early Saturday as crash in alternative cryptocurrencies triggered a flight to safety. reports godbole17.

Meanwhile, bitcoin lost just 3%. The relative outperformance perhaps stemmed from increased haven demand – investors moving money out of altcoins and into bitcoin, the world's largest and most liquid cryptocurrency.

"Bitcoin's relative dominance mooning amid altcoin market sell-off. Flight to majors ," pseudonymous crypto trader and analyst @52kskew tweeted.BTC's dominance rate has been steadily rising since November and surged during the March U.S. banking crisis.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin (BTC) Dominance on the Rise as Cardano (ADA) Slips 4% (Market Watch)Aside from ADA, ATOM, GRT, and FIL have also dropped hard in the past 24 hours.
Source: Crypto_Potato - 🏆 568. / 51 Read more »