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{"id":6686,"date":"2023-10-10T09:16:59","date_gmt":"2023-10-10T09:16:59","guid":{"rendered":"https:\/\/lunu.io\/news\/?p=6686"},"modified":"2023-10-10T09:17:01","modified_gmt":"2023-10-10T09:17:01","slug":"why-is-bitcoin-dominating-while-altcoins-falter","status":"publish","type":"post","link":"https:\/\/lunu.io\/news\/why-is-bitcoin-dominating-while-altcoins-falter\/","title":{"rendered":"Why is Bitcoin Dominating While Altcoins Falter?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Bitcoin&#8217;s Resilience Amidst Market Volatility<\/h2>\n\n\n\n<p>Bitcoin, the pioneering cryptocurrency, has showcased its resilience in the face of market fluctuations. Over the past 24 hours, the digital currency experienced a minor dip, shedding a few hundred dollars off its value. However, it promptly recovered these losses and even made strides towards the $28,000 mark. This comes after Bitcoin&#8217;s unsuccessful attempt to breach the $28,000 threshold at the end of the previous business week, which saw its value plummet to $27,200 on Bitstamp. Despite this setback, bullish sentiments prevailed, preventing any further decline. Instead, Bitcoin rebounded, touching over $28,000 by Saturday. However, it once again fell short of maintaining this level and hovered just below it for the majority of Sunday and Monday. The cryptocurrency&#8217;s market capitalization remains steady at approximately $540 billion.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"437\" src=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-13-1024x437.png\" alt=\"\" class=\"wp-image-6687\" srcset=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-13-1024x437.png 1024w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-13-300x128.png 300w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-13-768x328.png 768w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-13-1536x655.png 1536w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-13.png 1793w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Altcoins Face Downward Pressure<\/h2>\n\n\n\n<p>While Bitcoin demonstrates its tenacity, most alternative coins (altcoins) are grappling with a bearish market. Ethereum (ETH), the second-largest cryptocurrency by market cap, slipped below the $1,600 mark, reflecting a decline of just over 1%. Other prominent altcoins, including Ripple, Solana, Cardano, Dogecoin, Tron, Toncoin, Polygon, and Polkadot, have also witnessed retractions of up to 3% within a day. However, not all altcoins are on a downward trajectory. ATOM and Tezos have bucked the trend, registering increases of 4.5% and 7% respectively. Despite these few positive outliers, the overall crypto market cap has shrunk, losing several billion and currently standing at $1.080 trillion.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"403\" src=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-14-1024x403.png\" alt=\"\" class=\"wp-image-6699\" srcset=\"https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-14-1024x403.png 1024w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-14-300x118.png 300w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-14-768x302.png 768w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-14-1536x604.png 1536w, https:\/\/lunu.io\/news\/wp-content\/uploads\/2023\/10\/image-14.png 1861w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">A Personal Take on the Current Crypto Landscape<\/h2>\n\n\n\n<p>From my point of view, Bitcoin&#8217;s ability to bounce back from short-term setbacks underscores its position as the leading cryptocurrency. Its dominance over altcoins is becoming increasingly evident, with its market share surpassing 50% on CoinMarketCap (CMC). This dominance has grown by about 1% over the past week, marking its highest level in several months.<\/p>\n\n\n\n<p>On the flip side, the struggles faced by altcoins are concerning. As I see it, while these digital assets offer diversification options for crypto enthusiasts, their current performance highlights the inherent risks associated with them. The market&#8217;s volatility can lead to significant losses, and investors should exercise caution.<\/p>\n\n\n\n<p>In conclusion, while Bitcoin continues to solidify its position as the market leader, altcoins face an uphill battle. Investors should remain informed and make decisions based on thorough research and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s Resilience Amidst Market Volatility Bitcoin, the pioneering cryptocurrency, has showcased its resilience in the face of market fluctuations. Over the past 24 hours, the digital currency experienced a minor dip, shedding a few hundred dollars off its value. However, it promptly recovered these losses and even made strides towards the $28,000 mark. This comes [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6711,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[53,54],"tags":[],"class_list":["post-6686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-crypto"],"_links":{"self":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/6686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/comments?post=6686"}],"version-history":[{"count":1,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/6686\/revisions"}],"predecessor-version":[{"id":6723,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/posts\/6686\/revisions\/6723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media\/6711"}],"wp:attachment":[{"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/media?parent=6686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/categories?post=6686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lunu.io\/news\/wp-json\/wp\/v2\/tags?post=6686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}