Bitcoin Extends Dominance Over Alts As BTC Steady Above $29K: Market Watch

The last few days of April saw no significant price movement in either direction for bitcoin, which remains north of $29,000.

Altcoins are also quiet over the weekend as trading volume has dissipated. However, on a weekly scale, BTC’s dominance has increased by over a percentage.

BTC maintains $29K over the weekend

This weekend is similar to the last in terms of lack of volatility, except for BTC’s highest price point. Last Monday began with bitcoin jumping to $28,000, but it was short-lived and the asset returned to $27,000.

It wasn’t until late Tuesday, when the cryptocurrency began to rise, taking it to $30,000 just hours later. Still, the decline at that point, even though it was fueled by fake news, drove it south by $3,000 and BTC returned to its previous price position.

However, the US banking problems brought it back north, and bitcoin found itself knocking on the door of $30,000, but to no avail again. Since then, the asset has remained relatively stable at over $29,000, and the past two days were no exception.

As such, BTC’s market cap has reached $570 billion, while its dominance over altcoins has recovered over 1% since last week and is over 47% now.

Everything Sit calm

Trading volumes in recent weekends have been lacking, and this one is no exception. As such, most of the altcoins have failed to produce any notable price movements in either direction.

ETH remains at $1,900 after going above $2,000 and below $1,800 earlier this week. Binance Coin, Ripple, Cardano, Polygon, Shiba Inu and Avalanche are slightly in the red.

In contrast, Dogecoin, Solana, Polkadot, Litecoin and Tron have all marked insignificant daily gains.

HBAR is the only significant gainer from the top 50 alts, with a daily increase of 4.5%.

Overall, even the lower cap alts are sitting still today, which has resulted in no movement for the total market cap. The metric is inches above $1.2 trillion.