Bitcoin (CRYPTO: BTC) hit another all-time high of $108,388 early in the US trading session, but reversed its gains in line with broader stock market losses.
| Cryptocurrency | Price | Market capitalization | 24 hour trend | 7 day trend |
| Bitcoin (CRYPTO:BTC) | $106,171 | 2.1 trillion dollars | -0.2% | +8.6% |
| Ethereum (CRYPTO: ETH) | $3,933 | 474 billion dollars | -0.2% | +6.8% |
| XRP (CRYPTO:XRP) | $2.58 | $147.6 billion | +8.8% | +18.1% |
Trader analysis
Technical analyst Kevin warned in a post x that USDT dominance remains at a critical support level, which will likely prevent prices from rising.
As long as this support level, which also marked the local cryptocurrency’s high in March, is not broken, the analyst calls for caution.
Altcoin trader Sherpa highlighted the weakness of altcoins, which have struggled to keep up with Bitcoin’s recent gains.
The fact that Bitcoin leads the price evolution is, according to the trader, “a good thing”, since altcoins tend to rally following the leading cryptocurrency.
You can also read: XRP reaches $2.68 after the announcement of Ripple’s RLUSD stablecoin
Bitcoin Statistics
Bitcoin dominance, or Bitcoin’s market share among all cryptocurrencies, has rebounded from 54.56% on December 3 to 57.8% at the time of writing.
A higher Bitcoin dominance share is indicative of Bitcoin leading a rally in the broader market or holding up better compared to altcoins in a bear market.
Market news
XRP has been one of the best-performing altcoins of the day, boosted by the launch of its stablecoin RLUSD.
Bitcoin ETFs have seen two consecutive weeks of net inflows into spot ETFs. Monday saw another $688 million in net inflows into spot ETFs as market participants expect a rally over the final two weeks of 2024.
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