BTC Flirts With $28K as Bitcoin Dominance Nears 50%: Market Watch

Bitcoin’s price went on a rollercoaster in the past 24 hours, with moves of up to $1,000.

Most altcoins are slightly in the green today, but BTC’s dominance has continued to increase and has neared 50%.

BTC at $28K

The business week started on a high note for the primary cryptocurrency, which skyrocketed by $1,500 in about a day and a half and tapped a 6-week peak at over $28,500.

However, the enthusiasm among the community didn’t last long, and BTC quickly lost almost all of its momentum. It returned back down to just over $27,000, and spent the next few days there.

It tried to surge past $28,000 on a few occasions at the end of the week but was ultimately stopped. The latest attempt came earlier today when bitcoin spiked to $28,350. This came after a price drop to $27,200.

Nevertheless, the asset failed there once more and currently sits at just around the coveted $28,000 line. Its market capitalization has soared to $546 billion on CMC, and its dominance over the alts has kept increasing to 49.8% as of now – the highest in weeks.

BTCUSD. Source: TradingView## MATIC Goes Up

Most altcoins faced similar volatility in the past 24 hours but sit slightly in the green now. Ethereum, Binance Coin, Ripple, Dogecoin, and Bitcoin Cash have jumped by under 1%.

More gains come from the likes of Solana, Tron, Polkadot, and Litecoin – all of which are up by around 1-2%.

MATIC has emerged as today’s top performer. The asset has added 4.5% of value and currently sits just inches below $0.6.

With most other lower- and mid-cap alts trading slightly in the green today, the total crypto market cap has increased by about $10 billion and sits close to $1.1 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto