The cryptocurrency market is going through an interesting phase. Some altcoins are pulling ahead, chipping away from Bitcoin’s dominance, which is currently consolidating around the $97,000 mark. The total market capitalization is around $3.56 trillion.
Bitcoin’s Price Rests Around $97,000
Bitcoin’s price has experienced considerable volatility throughout the past week, dropping to a low of almost $90,000 at one point before bouncing back and forming a V-shaped recovery.
Yesterday, the bulls attempted to push it toward $99,000 but were unable to do it. The price is currently at about $96,700, which has been consolidating for the past hours.
It’s interesting to see whether or not the buyers will be able to take another shot at the coveted $100,000 level or if we will see another correction.
Source: TradingView
As mentioned above, however, Bitcoin’s dominance—the metric used to gauge its share relative to the rest of the market—has been dwindling. It has decreased by more than 3% in the past seven days alone and is currently at around 53%. This means that altcoins have performed better than Bitcoin.
Ripple Leads Majors, Altcoins Rally
XRP is up by a whopping 15% in the past 24 hours. It’s the best-performing large-cap cryptocurrency from the top 20.
Source: Quantify Crypto
All in all, the heatmap for the past 24 hours is painted in green, clearly indicating the relatively positive momentum in the market.
That said, some of the best performers from the top 100 include:
Hyperliquid (HYPE) up 76%.
Core (CORE) up 40%.
Ethereum Name Service (ENS) up 30%.
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