Bitcoin dominance to 60%, while altcoins continue to bleed out

09 May, 2019
by Joeri Cant
Price Action
Bitcoin dominance to 60%, while altcoins continue to bleed out

While most of the altcoins have been bleeding hard, the world's number one cryptocurrency, Bitcoin, has been having another solid day, with BTC dominance slowly creeping closer to 60%.

Although we have been told that an alt season is imminent by many traders and crypto enthusiasts alike over the last few months, Bitcoin’s market dominance has only grown since the beginning of 2019.

According to data from Tradingview, the recent upward push by Bitcoin has sent its total market dominance soaring to 60%, a level which we haven't seen since December of 2017.

Total Market Capitalization Dominance chart provided by Tradingview

While most altcoins in the Top 100 are bleeding out, Bitcoin is staying strong with gains nearing 3% on the day, and is currently trading at almost $6,100.

The biggest bleeder of the day in the Top 20 is Cosmos, with a massive loss of almost 13%, followed closely by BNB, as well showing a painful loss of -11.55%. Stellar and Cardano follow with losses over 4% and 6% respectively.

Both Cosmos and BNB, are only outperformed as worst coin of the day by Maximine Coin, which recorded a loss of -17.71% on the day.

 Although altcoins are suffering badly, there are a few exceptions.

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