Bitcoin dipped, but other major cryptocurrencies spiked Tuesday as capital rotated away from the apex cryptocurrency.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:05 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.59% | $117,739.91 |
| Ethereum (CRYPTO: ETH) |
+5.56% | $3,140.22 |
| Dogecoin (CRYPTO: DOGE) | +1.01% | $0.1989 |
What Happened: The world’s leading cryptocurrency dipped to an intraday low of $115,765.69 before recovering to $117,000 overnight. The sharp retreat from recent highs coincided with high profitability, with nearly 99% of Bitcoin’s supply now in profit, a historically rare event.
Ethereum, on the other hand, crossed the key resistance at $3,000, with trading volume slightly increasing in the last 24 hours.
Bitcoin’s market dominance fell from 63.6% to 62.9% in the last 24 hours, as capital rotated into Ethereum, whose share increased to 10.2%.
The so-called ‘Crypto Week’ was off to a bumpy start as the House suspended votes on key cryptocurrency bills.
About $465 million was liquidated from the market in the last 24 hours, with long positions accounting for more than 50%.
Bitcoin’s open interest fell 1.15% in the last 24 …