news.bitcoin.com
The dominant cryptocurrency weathered weaker than normal trading volume and a downtrend in price over the past 24 hours.
Bitcoin Falls Below $98K as Dominance Climbs
Bitcoin ($BTC) is trading at $97,102 at the time of reporting, after fluctuating between $96,174.83 and $99,168.61 over the past 24 hours, according to data from Coin Market Cap. The cryptocurrency remains in a downtrend, slipping 0.94% over the last day and 8.33% over the past week, reflecting broader market uncertainty.
Despite the recent dip, bitcoin’s market capitalization stands strong at $1.92 trillion, maintaining its status as the dominant force in crypto. $BTC dominance has surged to 61% according to Coin Market Cap, marking a 4.55% increase, signaling that investors are shifting capital away from altcoins and into bitcoin.
Futures Market and Liquidations
Bitcoin’s futures open interest remains substantial at $58.68 billion, though it saw a slight 1.40% decrease over the past 24 hours, according to Coinglass metrics. Meanwhile, bitcoin liquidations in the past day totaled $41.78 million, with $26.19 million coming from long positions and $15.59 million from shorts, indicating a somewhat cautious sentiment.
Weaker Trading Volume
Coin Market Cap data shows a 22% decline in bitcoin’s trading volume which dipped to $46.34 billion over the past 24 hours, suggesting weaker market engagement. But with $BTC dominance rising and futures positions holding steady, traders are still watching key levels closely as the leading crypto asset navigates this period of volatility.