One-Two Punch For Alts As Bitcoin Dominance Spikes During Crypto Blood Bath

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Crypto markets were bleeding red today as a deep sell-off tanked prices across the board. While Bitcoin FUD has been dominating headlines, it was alts that suffered most. Alts Get The Raw End Of The Sell-Off The total crypto market cap fell 32%, losing some $600 billion at its lowest point today. Although late lunchtime GMT saw a relief rally kick in, fears over further downside continue to dominate sentiment. During the peak of the panic selling, all alts were deep in the red, nursing losses of between 25%-45%. At one point, Ethereum could be bought for $2k, while Cardano dipped briefly to $1.05. If the dollar losses weren’t enough to contend with, alts suffered a double whammy as Bitcoin dominance spiked as high as 45.85 before retracing. Meaning, the value of altcoins quantified in Bitcoin also took a significant hit. Today’s candle has yet to close, but a swing…

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