August 12: Crypto markets are seeing solid gains today in a fresh attempt at recovery[1] following recent losses[2].
Bitcoin[3] (BTC) dominance[4] –– or the percentage of total crypto market cap that is Bitcoin’s –– is continuing to see a 2018 record-high percentage, at close to 50.9 percent. After the leading coin decoupled[5] from the wider market yesterday –– holding its gains while other cryptos floundered –– healthy growth has today been distributed across virtually all of the major cryptocurrencies, as Coin360[6] data shows.
Market visualization from Coin360[7]
Bitcoin[8] (BTC) is trading at around $6,310 at press time, up a strong 3.45 percent on the day, according to Cointelegraph’s Bitcoin price index. The top coin has seen a 24-hour high of $6,455, but has failed to break through $6,500 resistance, trading sideways within the $6,300-400 range for most of today. Having dipped briefly down to a low around $6,209, Bitcoin has recovered in the couple of hours before press time to hold just above the $6,300 price point. Weekly losses remain at about 10 percent, while on the month Bitcoin is up around 1.42 percent.
Bitcoin’s 24-hour price chart. Source: Cointelegraph Bitcoin Price Index[9]
Ethereum[10] (ETH) is currently trading around $322, up a solid 5.31 percent on the day. After plummeting as low as $306 in evening trading hours yesterday, the altcoin saw a strong push upwards to test the $330 mark. These fleeting attempts to break to a higher price point failed to hold, and the altcoin has since retraced towards the $320 mark. Ethereum’s losses on its weekly chart are
