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The last 24 hours witnessed Bitcoin’s price making an attempt to reach $31K while retaining its dominance over the broader market.
It is important to highlight that several altcoins exhibited remarkable performance, recording gains nearing 30%. Let’s explore further.
Bitcoin Price Approaches $31K
As reported by CryptoPotato yesterday, Bitcoin’s price surged to $31K, triggering a series of liquidations exceeding $100 million.
Source: TradingView
Additionally, Bitcoin’s dominance – the measure that tracks its market share in relation to other cryptocurrencies – has also increased. This indicates that the leading cryptocurrency has been outperforming altcoins significantly.
Regrettably for the bulls, they could not maintain the price above $31K. Sellers intervened, driving it below this threshold, where it currently trades at approximately $31,600.
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Bitcoin Cash (BCH) Tops Altcoin Performance
Bitcoin Cash (BCH) stands out as today’s top performer by a considerable margin. The cryptocurrency has risen by 30% in the last 24 hours alone, contributing to its total weekly gains of over 70%.
Following closely is Bitcoin SV (BSV), which has increased by more than 21% during the day and over 44% for the week. Ethereum Classic (ETC) is just behind with daily gains of 11.4%.
Source: Quantify Crypto
As illustrated in the heatmap, the majority of the market is performing well in the green. Litecoin (LTC) has risen by a total of 5.4%, followed by Polkadot (DOT) and Solana (SOL).
Maker (MKR) is today’s poorest performer, declining by approximately 4.6%. SUI, Optimism (OP), Conflux (CFX), and Injective (INJ) have also decreased by around 3% each.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
