This Is Why Altcoin Investors Struggle Despite Bitcoin, Ether Sitting Near Yearly Highs
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Bitcoin dominance
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The ratio of Bitcoin's market capitalization to the entire crypto market, has set a new year-to-date high of 58%. It rose to a high of 58.1% in the early hours of August 5 after a sharp sell-off that saw Ether tumble by 18% within two hours and BTC fall by 10% in the same time frame. This was triggered by a massive selloff in altcoins and global stock markets, which crumbled.
According to CoinGecko data, the price of Ether has fallen 30% in the last seven days, while prominent altcoins such as Solana have fallen 35%, 25%, and 21%, respectively.
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