Market Wrap: Bitcoin Near $53K After Major Drop as Ether Tops $2,800 for First Time
Bitcoin’s dominance is less than half of the crypto market as assets like ether and binance coin captivate traders.
Bitcoin gave up some gains on Wednesday, suggesting the short-squeeze rally is fading.
Some analysts are optimistic while others prefer to see stronger signs of upside momentum before calling a bottom.
Bitcoin is holding up following a strong bounce from $30,000 support.
Dominance is at the lowest level since April 2018, suggesting traders are rotating into ether and other altcoins.
Atcoins are rising, ether hits another all-time high and bitcoin’s correlation to gold drops to zero.