The price of Bitcoin traded at the level of $70,000 after failing to overcome the level of $71,000 and finally causing the price level of BTC to be pulled below the level of $70,000 before rising again.
However, altcoins have declined further on the daily scale, which has pushed BTC's dominance close to 50%.
It should be noted that major cryptocurrencies added over seven thousand dollars in the middle of last week after the FOMC meeting. However, the rise was short-lived, and the asset quickly returned to $62,500 by Friday.
The bull market tried to regain some of the positions it lost over the weekend, and the attempt appeared to be successful as BTC rose as high as $66,000. However, the fall was short-lived, the market landscape began to change and Bitcoin began to gain traction on Monday.
BTC has managed to push higher and touch a multi-week high of $71,600 amid rising ETF fund flows. The major cryptocurrency Waima failed to achieve its mission to break the record high since March 14 of $73,800 but it is seen as a positive development.
BTC market cap has fallen below $1.4 trillion. Even so, its dominance over altcoins has increased by almost 1% in recent days and has increased to 49.8%. Traders should note that the price of BTC has indeed decreased slightly but its dominance over altcoins remains on the rise.
The overall crypto market cap has lost more than $50 billion since yesterday's peak and is down to well below $2.8 trillion.
