Bitcoin Breaks $7,500 Point After a Week of Solid Growth, BTC Dominance Goes Up
It looks like we are having a mixed day today in the crypto world. Bitcoin is up and a variety of alts are slightly down in the red. If you are a Bitcoin maximalist then you are pretty happy. It looks like Bitcoin's dominance is growing and Bitcoin broke $7500 again, but it couldn't hold on and is trading slightly below $7500. Bitcoin is up roughly 18% for the week, adding about $1000 per Bitcoin. It is up roughly 21% for the month.
Total market cap is slightly up sitting around the $280 billion range. Earlier this week, the total market cap was creeping close to $300 billion, but it met some pretty big resistance and dropped down. Bitcoin dominance is sitting a little over 45%. "On Friday, July 20, the Chicago Mercantile Exchange (CME) reported that Bitcoin futures’ daily average volume has grown by 93 percent in the second quarter over Q1, with the number of open contracts on Bitcoin futures also having increased by 58 percent."
Well there you have it, a quick crypto breakdown. We are still waiting to hear about the BTC ETF getting approval. It appears many people are selling their alts and holding BTC. Maybe after the next big BTC move, profits will flow over into alts. We will have to wait and see. Thanks for reading and I will see you again soon.
Some consistent growth , pretty good !! Let’s see Steem rise now as well
Yea, it looks like BTC is going to lead the way. Once BTC gets some good trading days, new money should start entering and then profits should start flowing into alts. Then hopefully Steem and SBD will rise
Finally people who were shorting it for a long time got rekt simply the futures contract thing is playing with the prices
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