A fast 36% reset for bitcoin marked by unusual dominance behavior and a market wide deleveraging.
Bitcoin Dominance Defies Pattern During 30% Decline, Dropping Instead of Climbing
A fast 36% reset for bitcoin marked by unusual dominance behavior and a market wide deleveraging.
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Already having posted sharp losses over the past days, the price of bitcoin held about steady following the news.
Bitcoin and altcoin prices have pushed higher, but Glassnode data shows spot trading activity has dropped to its weakest levels since late 2023.
Strategy’s 650,000 BTC holdings make it a ‘pressure valve’ for the broader market, said the Bitmine Immersion chairman.
Most altcoins including ETH, SOL, AVAX, UNI posted declines Tuesday but bitcoin was flat after a late rally.