Bitcoin advances, holds above key technical level that ether, solana can’t break through
BTC’s dominance rate has risen from last week’s low, a sign of renewed capital flowing into the largest cryptocurrency as major altcoins struggle.
What to know:
- Bitcoin advanced and its market dominance rose to 59%, underscoring renewed investor preference for the largest cryptocurrency as major altcoins lag below key technical levels.
- Lesser-known tokens BEAT and VELVET have posted explosive gains, over 500% and 800%, respectively.
- Derivatives data show ongoing long liquidations, muted new leverage, and steady implied volatility, with bitcoin and ether puts trading at a premium to calls as traders hedge rather than bet on a volatility spike around SpaceX’s expected IPO.
BTC’s dominance rate has risen to 59% from last week’s low of 57.9%, a sign of renewed capital flowing into the largest cryptocurrency as major altcoins struggle. The bitcoin price has held its 200-week average even as other majors such as XRP, ether (ETH) and solana (SOL) trade below the key technical line, suggesting strengthening bearish momentum in altcoins.
In the wider market, Audiera’s BEAT token jumped another 57%, taking the seven-day gain to over 500%. Audiera is a Web3 entertainment and rhythm gaming platform built on BNB Chain that treats AI characters and virtual idols as economic participants.
The protocol announced on X that onchain activity is surging, driven by consistent token burns and rising wallet participation. However, some users on social media have voiced concerns about concentrated token ownership and potential pump-and-dump risks.
