Bitcoin Dominance Soars as Altcoins Lose BTC domi

Bitcoin Dominance Soars as Altcoins Lose

BTC dominance surged 2.5% in a day.

Bitcoin’s price plunge began on Sunday morning and worsened on Monday, with the asset falling to a three-week low of around $91,000 on most exchanges.

Altcoins have been completely destroyed in the past 36 hours, with many of them seeing sharp double-digit price drops.

BTC dominance is on the rise

Just three days ago, the main cryptocurrency stood above $106,000 despite the Fed’s decision to keep interest rates unchanged. It cooled off on Saturday and fell to $102,000, but that was just the beginning of a more severe correction.

Stocks turned red on Sunday morning after U.S. President Donald Trump imposed tariffs on Canada, Mexico, and China, and the ensuing retaliation soon began. BTC fell from $102,000 to $97,000 but remained at that level for most of the day.

However, bears took full control of the market on Monday morning, and they pushed BTC down fiercely.  Within hours, the cryptocurrency plunged another $6,000 to below $92,000, thus losing $10,000 since Sunday morning.

It rebounded after the low and now sits above $95,000. Despite this, its market cap has fallen below $1.9 trillion. However, its dominance over altcoins on CoinGecko has risen to nearly 59%, up nearly 3% in a day.

Altcoins are being wiped out

As BTC’s rising dominance shows, altcoins have suffered much harder. Ethereum fell from over $3,000 to below $2,300 and is currently stabilizing around $2,600. Solana and Tron are currently among the few altcoins that have seen single-digit price drops over a 24-hour period.

Meanwhile, BINA, XRP, DOGE, ADA, LINK, AVAX, XLM, TON, SUI, HBAR, and SHIB all saw double-digit declines, with ADA falling as much as 23%.

The total market value of cryptocurrencies once shrunk by more than $400 billion from top to bottom, and is currently just over $3.2 trillion.