Bitcoin dominance hits 3-year high as BTC price dip pressures altcoins

Bitcoin scores an accidental multi-year high as BTC price volatility sends altcoins shooting lower.

Bitcoin 

BTC

66,742

 market cap dominance has hit its highest level in three years as altcoins feel renewed price pressure.

Data from Cointelegraph Markets Pro and TradingView shows Bitcoin’s share of the total crypto market cap spiking to 56.3% on April 12.

Altcoins see "real damage" in wake of BTC price rout

BTC price action suffered into the weekend with a liquidation cascade bringing BTC/USD below 65,300.

At the same time, however, altcoins faced much worse conditions, data shows — many of the top twenty cryptocurrencies by market cap fell more than 15%.