Bitcoin took another shot at $10,000 today as its price reached $9,960 on Binance. However, unlike the previous times, altcoins are looking to regain their strength as they managed to chip more than 1% of BTC’s dominance in the past few days.
The price reached $9,960 on Binance before retracing to where it currently trades at around $9,800.
This said, Bitcoin is up about $500 in the past two days as it was trading at around $9,300 on May 16th.
Volatility doesn’t seem to fade in the crypto market as Bitcoin made another attempt to reach the coveted $10,000 mark less than a couple of hours ago.
If BTC is successful in retaking the current resistance around $9,800, the next target would be $9,950 – 10,000. Throughout the past few weeks, while the price of Bitcoin was surging, altcoins failed to realize any notable gains.
As such, BTC’s dominance – the index that measures its strength relative to the overall cryptocurrency market, peaked at around 68.2% on May 15th.
At the time of this writing, the index stands at 67.1%, meaning that in the last three days alone, altcoins managed to chip away more than 1% off Bitcoin’s total capitalization.
Indeed, every single large-cap cryptocurrency from the top 20 is currently trading in the green. In the past 24 hours alone, Ethereum is up 6.5%, Bitcoin Cash – 5%, Cardano – 5.1%, Bitcoin SV – 6.7%, while the rest have realized gains between 2% and 5%.
