Bitcoin Dominance Rises as Binance Coin and Other Alts Turn Red (Market Watch)

Bitcoin’s dominance in the cryptocurrency market has been on the rise as altcoins like Binance Coin (BNB), NEAR, FIL, and FET experience price drops. Despite a minor increase towards $70,000, Bitcoin’s price has returned to familiar levels. Last week, Bitcoin saw positive ETF inflows for 19 consecutive days, resulting in increased volatility and gains for the cryptocurrency. However, a bearish trend caused Bitcoin to fall to $68,400 and resulted in over $400 million in liquidations across the market. Currently, Bitcoin’s market cap is still below $1.370 trillion, but its dominance over altcoins has increased to 51.4%. Meanwhile, Binance Coin, which reached an all-time high of over $715 last week, has experienced a 5% drop in the past 24 hours, falling below $650. Other altcoins like NEAR, FIL, FET, and CRO have also underperformed recently. The total crypto market cap remains around $2.660 trillion.