MZH Zee

08/02 12:23

Altcoin Quarterly Index Plummets, Bitcoin Dominanc

Altcoin Quarterly Index Plummets, Bitcoin Dominance Soars—Is a Sell-off Imminent?

Bitcoin dominance surged to 61.52%, while the Altcoin Quarterly Index fell to 34/100.

Cryptocurrency market capitalization fell 2.75%, while trading volume jumped over 13% in 24 hours.

Greed prevailed, with the Fear & Greed Index at 67, reflecting strong risk appetite.

The cryptocurrency market is undergoing a trend shift. Amidst significant capital flows and rapidly shifting investor sentiment, Bitcoin has reasserted its dominance. Despite a surge in 24-hour trading volume to $222 billion, the total cryptocurrency market capitalization has fallen 2.75% to $3.82 trillion.

Meanwhile, Bitcoin's dominance has climbed to 61.52%, while Ethereum's is at 11.3%. Further highlighting the continued decline in altcoins, the Altcoin Seasonal Index has fallen to just 34/100.  The Fear and Greed Index is flashing with greed at 67 points, and the market is at a crossroads between opportunity and caution. If you are one of those people who is curious and enthusiastic about the future, then this analysis is for you.

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