As many altcoins, including BNB and LINK’s ATHs, outperformed the leading cryptocurrency, Bitcoin’s dominance dropped to below 61%, the lowest in the last 3 months.
After a turbulent trading day, Bitcoin now looks calm around $ 37,500. However, its dominance continues to suffer and has dropped below 61% as it outperformed several altcoin leaders.
Movements in altcoins
Ethereum (-1%), Bitcoin Cash (-1%), Polkadot (-2.5%) and Litecoin (-2%) showed minor losses in the past 24 hours, while the other top 10 altcoins made impressive gains.
Ripple and Cardano lead with 13% gains. As a result, XRP approached $ 0.45 a few days after falling to $ 0.34. On the other hand, ADA marked the highest level in the last 3 years with about $ 0.50.
Binance Coin and Chainlink headed for all-time highs. After a 9% increase in the 24-hour timeframe, BNB reached $ 58, while Chainlink’s 7% pump increased the asset to $ 27.
As usually happens, low and medium altcoins fluctuated even more. 0x has been leading with an increase of 75% since yesterday and 130% in seven days. As a result, the ZRX spiked to $ 1.4.
Maker (35%), Terra (29%), Ocean Protocol (28%), Rhine (26%), Kyber Network (26%), Alpha Finance Lab (24%) and Synthetix (20%).
Ultimately, the total market cap remained close to an all-time high with almost $ 1,150 billion.
Bitcoin’s dominance is falling
While most of the alternative cryptocurrencies have made significant gains in the last 24 hours, BTC has not been able to show any significant increase. The leading cryptocurrency headed for $ 39,000, but the ensuing rejection dropped it down to $ 36,200.
However, Bitcoin took off as the bulls took the asset to its current position of about $ 37,600. For this reason, the rising altcoins have now reduced their BTC dominance to below 61%.
From a technical perspective, Bitcoin has to overcome the $ 38,000, $ 38,800 and $ 39,190 resistance lines before potentially challenging the $ 40,000.
Alternatively, support levels of $ 37,000, $ 36,000 and $ 35,140 could help in the event of another price drop.