Bitcoin price hit a new multi-week high of just under $103,000, but stopped there and pushed down around $1,000.
Altcoins have performed much worse on a 24-hour scale, resulting in increasing dominance of BTC.
BTC dominance increases
Monday and Tuesday saw some violent price rejections for the top cryptocurrency, which rose to $94,400 on a couple of occasions during those days. However, the bulls managed to prevail and drove some gains that helped BTC recover all losses and quickly challenge the six-digit entry territory on Thursday.
In fact, bitcoin surpassed that level and soared to $102,000 on Friday and Saturday. It initially stopped there, but the bulls took it further a few hours ago to just under $103,000.
However, it was unable to break through that line and is now below $102,000. However, its market capitalization continues to reach new local highs and is well above $2 trillion.
BTC’s dominance over altcoins is also increasing. The metric has jumped to over 53% in CG after falling to 52.5% yesterday.
receding alts
Most altcoins also tried to break out over the weekend, but most stopped dead and are suffering notable losses on a daily scale. Ethereum and Ripple are down around 2%, with the former struggling below $3,900 and the latter at $2.4.
ADA, DOGE, BNB and SOL have dropped up to 5% in the case of the former. Tron, Avalanche, Polkadot, and SUI have plummeted further, in some cases by as much as 8%.
The cumulative market capitalization of all cryptoassets has dropped by around $70 billion in one day and is well below the $3.8 trillion in CG now.
