While Bitcoin (BTC) keeps sightly going down after a rise above $9,000, some altcoins are showing growth. Bitcoin SV (BSV) is about to regain its recent rise as its rate has increased by more than 12% over the last 24 hours.
Meanwhile, the altcoin market is more volatile than Bitcoin (BTC) which directly influences the dominance rate of the leading crypto. Currently, its market share is declining and constitutes 66.3%.
The latest information for Bitcoin (BTC), below, is pointing to movement in the opposite direction.
Market Cap: $156 563 568 855
Price: $8 616,05
Volume (24h): $28 259 056 807
Change (7d): -0.57%
This data is relevant at press time.
BTC/USD: expecting a stop at around $8,500?
On Saturday, the EMA55 hourly kept the BTC/USD pair from falling, and on Sunday night, growth began, which ended with a new annual high in the region of $9,200.
At first, the rollback from the annual maximum was very modest. However, from the $9,000 level, bears pressed so hard on the price that in the afternoon the pair tested the area of $,8460.
The Bitcoin (BTC) price spent the rest of the day in a narrow consolidation at $8,640. Today, the price decline may continue to the level of $8,400 as bulls are not going to buyback based on the decreasing trading volume.
In the long run, the bearish scenario is even more relevant. The declining MACD indicator confirms the ongoing dominance of sellers. Furthermore, the trading volume index is decreasing which means that there are no buyers in this zone. The possible area where bears might face an obstacle is the crucial $8,000 level.
Bitcoin is trading at $8,534 at press time.