Bitcoin Market Analysis — May 23
Bears continue to hold market dominance in the crypto space as Bitcoin (BTC) and other altcoins bleed on Sunday. The entire market capitalization has dropped by over $180 billion over the past 24 hours.
Nonetheless, Bitcoin has slowly reclaimed more market dominance over the past few days, as the benchmark cryptocurrency claims 46% of the total valuation.
BTC appeared to be on a recovery path just yesterday, reaching an intraday high of around $38,860. However, bears were not done with the market yet and dragged prices lower, recording a daily low of $33,860.
From a longer-term perspective, the primary cryptocurrency’s performance still falters. BTC is down by 29.5% over the past seven days, with a weekly low at $30k
Bitcoin’s market dominance recovery is a healthy sign that the cryptocurrency is recovering faster than...
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