Bitcoin Dominance Hits Four-Year High Amid Market Shifts

Bitcoin dominance surged to 60.6%, marking a 5.01% increase in 48 hours, per CoinMarketCap. This shift suggests growing investor confidence in Bitcoin, despite market volatility. As Bitcoin absorbs more capital, altcoins struggle, but historical trends indicate that once Bitcoin stabilizes, altcoins may rebound. Analysts note that fresh liquidity is crucial for an altcoin rally. Bitcoin’s price fluctuated between $91,242.89 and $99,397.65, now trading at $99,646.42, up 4.54% in 24 hours. Veteran trader Peter Brandt remains bullish, stating that even a drop below $80,000 would not disrupt Bitcoin’s uptrend.

Meanwhile, XRP faced a steep 40% drop, shaking investor confidence. However, on-chain data reveals that whales continue holding, signaling long-term faith in the asset. XRP fell to $2.00 from a $3.40 peak, breaking critical moving averages. If support at $2.00 fails, further declines to $1.60 or even $1.20 could follow. To regain bullish momentum, XRP must surpass $2.61 and ultimately reclaim the $3.00 level. Currently, XRP trades at $2.60, up 15.23% in 24 hours, according to CoinMarketCap.

SHIB also took a hit, with its burn rate plummeting nearly 100% as market turmoil escalated. Only 2.6 million SHIB tokens were burned in the past 24 hours, although the weekly burn rate spiked by 3,614.46%, totaling 1.16 billion SHIB. SHIB's price plunged 32% before recovering slightly to a 25% loss, now trading at $0.0000159, up 8.42% in the last 24 hours. Geopolitical tensions and broader market instability continue to impact crypto trends.