Bitcoin [BTC] price made a swift correction of nearly $700 after recording yearly highs near $11,250. It rose back above $11,000 again as the bullish continue to strengthen around it. The total market capitalization of Bitcoin is close to $200 billion.
The price of Bitcoin [BTC] at 5: 00 hours UTC on 25th June 2019 is $11,240. It is trading 4.4% higher on a daily scale.
BTC/USD 4-Hour chart on Bitstamp (TradingView)
During Q1 of 2019, the market dominance of Bitcoin was close to 50%. The investment in altcoins was possibly in anticipation of an altcoin bull run similar to 2017. However, the developments in Q2 with stablecoins and institutional investors have driven the altcoins into the shadows. While slight gains have been recorded on altcoins w.r, t US dollar, they continue to lose value to Bitcoin.
Ethereum [ETH], Bitcoin Cash [BCH] and Litecoin [LTC]
Ethereum [ETH] broke above the $300 during the recent bullish run of Bitcoin [BTC]. Moreover, while other cryptocurrencies like Litecoin lost close to 20% of value w.r.t Bitcoin [BTC], ETH is down around 10%.
ETH/USD 4-Hour Chart on Bitstamp (TradingView)
Bitcoin [BTC] also showed positive momentum as it broke above $500. However, the move was soon corrected as the price is looking to find support near $480.
BCH/USD 4-Hour Chart on Bitstamp (TradingView)
Litecoin rose about 50% during the beginning of the month due to halving speculations reaching a high of $140. Nevertheless, bullish BTC seems to be causing a shift in the belief of altcoin ‘hodlers‘.