CandleFocus Bitcoin Dominance Skyrockets as Altcoins Bleed Out (Market Watch)
2025-02-03
Author: Content Editor
Bitcoin's price dropped to a three-week low of $91,000, with altcoins experiencing significant double-digit price declines. The cryptocurrency initially cooled off after the US Fed's decision to keep interest rates unchanged, but further correction occurred after US President Donald Trump imposed taxes on Canada, Mexico, and China. Bitcoin's market dominance has increased to almost 59%, while altcoins such as Ethereum, BNB, XRP, DOGE, and ADA saw substantial losses. The total crypto market cap declined by over $400 billion and currently stands just above $3.2 trillion.
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