BTC Dominance Climbs Almost 20% This Month As Price Tops $13k

The BTC dominance climbs a level up this Wednesday. After surpassing 65%, many analysts believe that the price of the most popular cryptocurrency is heading for new highs this year. The current dominance level of Bitcoin is everywhere in the latest cryptocurrency news.

As the most dominant cryptocurrency shot over $13,000, it is now up by 2% in the past 24 hours and by 14% in the past week. The performance puts BTC up by 70% in the past month which is why the BTC dominance climbs as we speak. All in all, Bitcoin is a favorite cryptocurrency for many people.

This also shows that the Bitcoin dominance is 18% higher than a month ago. The percentage is reported by many best cryptocurrency news sites as it increases. Meanwhile, the total market capitalization stands at $356 billion as the majority of the altcoins in the top 100 are in red today.

As the BTC dominance climbs, the money flow into Bitcoin in the past 24 hours is as following (by currency):

Tether: 4.16 billion
USD: 1.16 billion
EUR: 191 million
JPY: 231 million
CNY: 234 million
KRW: 64 million
GBP: 72 million

All of this signifies that while BTC is rising, the coming altcoin news do not follow the rises for the top 10, top 20 or even top 30 coins. Still, we can expect a positive momentum in the altcoin segment soon.

The fact that the BTC dominance climbs puts many altcoins at risk. Today only, most of the top 10 altcoins are losing their share and falling by 1%, 2% and over 3%. The only gainer at this point is UNUS SED LEO (LEO) which as the BTC dominance climbs, managed to post 3% gains.

Tezos (XTZ) is also in the news for rising by 6% and reaching the $1.24 mark. Crypto.com Chain (CRO) gained 7% overnight, while Bitcoin Gold (BTG) is also impressive as it crossed the $30 mark with 5% gains. Other than these, we can’t see many altcoins in the altcoin news with big gains.

As the BTC dominance climbs, traders believe that Bitcoin will soon post a new yearly high for 2019. As a reminder, the previous yearly high for BTC was established a month ago when Bitcoin jumped to $13,800 before correcting down to below $10,000.