Bitcoin Dominance Ramping Up, Crypto Market Still Hesitant To Follow Pump

The crypto markets got back its groove after Bitcoin crossed the $6k psychological level today. Despite the Binance hack yesterday, which worried the short term traders, the market did not experience any major dump and immediately resumed the uptrend. The total market capitalization rose up to $188 Billion, the highest it got since the dump last November 2019. The trading volume is still at a low at $47 Billion but this can be attributed to lesser trading for the incoming weekend.

Bitcoin was happily accumulating for a while, then climbed over $6k, a level which has been blocking it for a while. The Bitcoin dominance is at an 8-month high at 57.2% as the market capitalization rose to $107.6 Billion at the time of this writing. It has gained 3.10% on the day, and currently trading at $6082. Analysts who have called this level are now predicting an easy pass at $6400 next. Above the current price, Bitcoin’s next resistance is at $6200. On the downside, the first level of support is at $5900.

Bitcoin graph via Tradingview. 05/09/2019

Ethereum, which has been ramping up a couple of days ago due to a couple of good news is now lifeless at $170 with hardly a gain at 0.20%. This asset has been in this range since April and analysts are divided if it’s going to get past resistance at $180 in the short and medium term. Below $170, the first level of support is at $160. XRP is likewise and has not been able to ramp up with Bitcoin. It is trading at $0.299 with a minimal loss of -0.16%.

Ethereum graph 05/09/2019

The rest of the Top 10 is still mostly red today but they are not in as much as a big pain as yesterday. Tether is up with 0.55%, and the only green at the moment, as is usual when the Top 10 is in the reds. Most of the coins are at a loss under 1% but the biggest losers are Stellar with -3.29% loss, and Cardano, at -2.69% loss on the day.

Top 100 Crypto Market Movers

The Top 25 are still dumping at this time, Cosmos continues to shed gains and and has lost another -9.58% on the day to trade at $4.09. Basic Attention Token has been continously declining this week and has lost -8.48% on the day. IOTA and TRON are also losing, with -5.34% and -3.59% dump consecutively.

Down the Top 100, Arcblock enters the Top 100 with a 13.35% surge after a couple of updates on its wallet. Just outside the Top 25 is Bitcoin Gold with a 7.51% gain on the day. Horizen and DigixDAO are also doing well. The rest is a mix of reds and greens at 1-5% either way. The biggest losers today are Japan Content Token -on a second-day dump at -23.56%, and Aurora -with a loss of -10.18%, -on its usual here and back again pattern.

Anyhow, this is today’s market recap to give you a glimpse of what happened on the crypto markets while you were sleeping. Trade safe, and have a great Friday!

This Post Has One Comment

Leave a Reply

Close Menu
%d bloggers like this: