Bitcoin Flat, Ethereum, Dogecoin Spike Ahead Of Christmas: Analyst Says Decline In BTC Dominance Leaves ‘Room For Altcoins To Pick Up’
Bitcoin moved sideways while the altcoin market rallied significantly on Monday as traders pivoted away from the leading cryptocurrency ahead of Christmas.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -0.37% | $94,282.97 |
| Ethereum (CRYPTO: ETH) |
+4.35% | $3,405.60 |
| Dogecoin (CRYPTO: DOGE) | +4.51% | $0.3227 |
What Happened: Bitcoin remained choppy, oscillating between the $92,000-$96,000 zone. The sideways movement comes a day after the apex cryptocurrency closed at a weekly loss for the first time since Donald Trump’s election victory last month.
Investors shifted their capital to Ethereum and the rest of the altcoin market. The world’s largest cryptocurrency rose 4.35% to nearly $3,400.
Bitcoin’s dominance fell by 1.53%, while Ethereum and altcoin saw increases in their respective market shares.
Over $278 million was liquidated from the market in the last 24 hours, with nearly equal proportions of long and short liquidations.
Bitcoin’s Open Interest rose 2.49% in the last 24 hours. An increase in Open Interest, coming alongside a sideways price …
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