Bitcoin Slips and Altcoins Surge: What’s Really Happening?

• Bitcoin drops slightly, with market capitalization decreasing by 2.13% in the last 24 hours.
• Altcoins account for 40.96% of the market, signaling strength amid Bitcoin’s minor setback.
• OM and XCN lead with gains of 50.55% and 39.13%, showing potential in a volatile market.

As the month ended, the cryptocurrency market experienced a downturn. The Bitcoin price declined to $102,000, thus registering a 2.33% loss. On the other hand, Ethereum declined slightly and fluctuated around $3,300. The market capitalization is over $3.48 trillion, 2.13% less than the amount noted a day ago.

Bitcoin’s dominance in the market remains high, at 59.04%. Nevertheless, the percentage of altcoins in the market currently stands at 40.96%. Even though Bitcoin was seated a little lower, the change in dominance could be a sign that altcoins are not retreating quite yet. Markets are still considered to be bullish, as shown by the Fear Greed Index, which is at 68, meaning “Greed,” while markets are volatile.

Fluctuations Among Trending Cryptos

The overall performance of trending cryptocurrencies was generally moderate, with some fluctuations. ALPHA fared the best by increasing its performance by 1973.09%. Inversely, XRP fell 2.35%, while WIF was the worst-performing token of the week, decreasing 11.17%. The price fluctuation was slight in Ethereum, as it only declined by 0.10%. Such fluctuations show the changing situation in the market as some assets sharply fluctuate while others remain stable.

Related: Altcoins Diverge: Solana Soars, Ethereum Slows, MATIC Sinks

Despite this, most Altcoins gave astounding returns as Bitcoin’s price declined. OM was the biggest gainer of the week, rising by 50.55%, and XCN was the other gainer, up by 39.13%. On the other hand, TAO is up by 25.64 %, while JASMY and JUP registered increases of 21.46 % and 19.20 %, respectively. These altcoins brightened the scene at a time when most cryptocurrencies are in the red bracket to show that there are still gains to be made in the crypto sphere.

The participants in the market will continue observing the Bitcoin price regarding further volatility in either direction. The stable form of Ethereum will likely maintain investors’ confidence, and moving in the altcoin dominance presents opportunities for such assets. The next few days may bring some answers to the question of whether Bitcoin will be able to regain its impulses or if altcoins will keep on surpassing the leading cryptocurrency.

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