Bitcoin
BTC$28 066.66

1.34%

Ethereum
ETH$1 789.57

1.88%

Tether
USDT$1.001142

-0.17%

Binance Coin
BNB$323.24

-0.82%

USD Coin
USDC$0.999814

0.02%

XRP
XRP$0.431011

-2.63%

Bitcoin’s dominance went below 40%: crypto winter or maturity?


09 Dec 2021

#Bitcoin

The cryptocurrency market capitalisation rose slightly, by 0.4%, to 2.36 trillion in the past 24 hours. The cryptocurrency Fear & Greed Index added another 1 point overnight to 29, a significant retreat from the December 6 lows of 16 points, but still in the fear zone. Binance Coin, XRP and Luna have added between 4% and 10% over the past 24 hours, leading the gains among the top altcoins.

Growth has been held back by the negative dynamics of the first cryptocurrency, which is losing more than any other of the top-20 coins. The pressure intensified on exceeding the $50K level, pushing it down 1.7% in a day and 12% in seven days.

As another result, bitcoin’s overall crypto market share fell below 40%. Approaching this mark in May was a manifestation of sharp profit-taking in Bitcoin after a dizzying rally.  Any sustained period when the share of the first cryptocurrency fell below 40% was in January -March and April-June periods in 2018. After that, the BTC domination has recovered with altcoins’ deeper crash, called later the crypto winter.

But there is another crucial point: Bitcoin’s peak share declines from cycle to cycle as more new players emerge. At the beginning of 2017, it was 87%, then in 2019, it is already less than 70%. Many other projects have appeared in place of XRP, which has lost its former strength, like a hydra with several new ones growing in an area of its severed head.

That said, neither the mechanics (BTCUSD above its 200-day average and retreating from an oversold area on the daily charts) nor the sentiment in the stock markets are pessimistic, indicating that we see purely local momentum in Bitcoin.

Ether continues to pivot around its 50-day moving average, sticking to local bullish momentum. As always, it should be stated that a sustained negative on Bitcoin has the power to affect the entire crypto market, but the smooth slide in price suggests that enthusiasts are looking for other ideas in the sector, but not a general flight out of it. Perhaps capital flowing from one cryptocurrency to another is the best scenario for the entire market. However, as Saturday showed, it is easy to scare the whole market with solid moves in BTCUSD.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 70.4% 54 $28 066.66 1.34% 4.74% $542 437 239 798 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 79.2% 39 $1 789.57 1.88% 2.34% $218 996 509 081 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $1.001142 -0.17% -0.11% $78 575 728 756 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 73.6% 51 $323.24 -0.82% -3.97% $51 037 143 522 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 92.8% 2 $0.999814 0.02% 0.03% $34 407 684 690 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 86.8% 21 $0.431011 -2.63% 15.02% $21 960 407 308 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 58.8% 82 $0.100734 -20.12% 13.44% $17 468 467 379 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 78% 44 $0.362106 -2.95% 6.35% $12 572 910 866 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 71.6% 51 $0.074956 -3.44% -1.02% $9 944 529 563 DOGE 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 74.4% 48 $1.11 -1.27% -8.22% $9 721 254 465 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 71.6% 52 $21.64 -0.76% 4.61% $8 304 118 412 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 94% 1 $0.999612 -0.02% -0.10% $8 060 892 614 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 74.8% 49 $6.14 -0.90% -5.11% $7 183 412 082 DOT 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 70.4% 59 $92.03 0.57% 9.30% $6 677 190 783 LTC 7 days price change

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