Bitcoin Dominance Surges as BTC Hits New Weekly High
Bitcoin's recent price surge has seen it reach a weekly high of $64,550, its highest level since Monday's drop. The asset had been stuck in a tight range over the weekend but rebounded on Tuesday to break through resistance and hit the new high.
The modest price increase has led to an uptick in dominance for Bitcoin, with its share of the market cap rising by almost 0.5% in just one day to 57.2%. This shift in dominance comes as most alternative cryptocurrencies (altcoins) have failed to make significant moves, with many trading flat or experiencing minor losses.
One notable exception is XRP, which continues to struggle to reach the $1.00 mark, despite growing whale activity. The altcoin's failure to break through this key level has seen it remain relatively stagnant in recent days.
The total crypto market cap has added around $20 billion over the past 24 hours and now stands at $2.260 trillion on CG.