Market Wrap: Bitcoin in Neutral at $55.5K as Ether Continues Bull Run
The price of bitcoin has changed little over the past 24 hours, despite the asset’s notorious volatility.
Atcoins are rising, ether hits another all-time high and bitcoin’s correlation to gold drops to zero.
Bitcoin’s dominance is less than half of the crypto market as assets like ether and binance coin captivate traders.
Dominance is at the lowest level since April 2018, suggesting traders are rotating into ether and other altcoins.
Bitcoin’s stagnant market is due to investors continuing to explore other cryptocurrencies, says one trader.
Bitcoin's share of the overall industry market capitalization has fallen as ether and other altcoins have surged in price.