The king coin lost some of its dominance recently, and OTC buyers are also not eager to acquire more Bitcoin.Alongside the price slip over the past few days, the king coin’s market dominance has also diminished. Furthermore, as the price decreased, the Over the Counter balances continued to rise.However, by the end of the next day, the 25th of June, it had fallen to around 52.28%.
This rapid decline within 24 hours suggested that while Bitcoin was losing value, some altcoins were performing relatively better and gaining market share.As of this writing, BTC dominance has experienced a slight decrease, but still hovered around the 53% mark.market cap stood at over $1.2 trillion at press time, with the total crypto market cap at approximately $2.27 trillion.
The continuous increase in OTC reserves suggested a lack of buyers at the moment, which could be attributed to the recent decline in Bitcoin’s price. The dynamics between the falling price and the increasing OTC reserves highlight the cautious stance of larger market participants during periods of price volatility.
As of this writing, Bitcoin was trading at approximately $61,680 on a daily time frame chart. It was trading with a minor decline of less than 1%.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.