Bitcoin Dominance Hits Two-Month High

The cryptocurrency markets succumbed to another mid-week slump on Wednesday, with the majority of top-tier coins posting minor declines. Meanwhile, Bitcoin dominance rose to a two-month high as investors continued to consolidate their holdings back into the flagship cryptocurrency. At present, the cryptocurrency market cap is valued at $452.4 billion, down from $459.6 billion on Tuesday. This represents a single-day decline of approximately two percent. The Bitcoin price had entered the day on an upward trajectory, and it continued to ride this bullish wave past the $11,000 barrier, eventually rising as high as $11,065. However, Bitcoin met resistance at that mark, and before long, the Bitcoin price began to retrace. Ultimately, the Bitcoin price plunged more than $400 on Bitfinex and is currently trading at $10,599. This represents a single-day decline of about one percent and leaves Bitcoin with a $181.5 billion market cap.


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