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Reading: Bitcoin Dominates Cryptocurrency Market with Over 50% Share
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COINTURK NEWS > Altcoin News > Bitcoin Dominates Cryptocurrency Market with Over 50% Share
Altcoin News

Bitcoin Dominates Cryptocurrency Market with Over 50% Share

In Brief

  • Bitcoin holds over 50% market dominance in the cryptocurrency sector.

  • ARB/BTC shows a significant downtrend below key resistance levels.

  • INJ/BTC and ORDI/BTC indicate potential breakouts near support levels.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Bitcoin currently holds more than 50% of the market dominance in the cryptocurrency sector and is generally considered less volatile compared to other cryptocurrencies. We explore which altcoins might perform well in June if Bitcoin reaches its all-time high of $73,000.

Contents
Arbitrum Chart AnalysisInjective Chart AnalysisOrdi Chart Analysis

Arbitrum Chart Analysis

ARB/BTC chart shows a significant downtrend, with price action consistently below the daily Ichimoku Cloud and the 100-Day EMA average. The current consolidation near support levels indicates a critical juncture.

This chart reflects the ARB/BTC pair and highlights a consolidation phase below key resistance levels marked by the daily Ichimoku Cloud and the 100-Day EMA average.

Injective Chart Analysis

INJ/BTC chart reveals a prolonged downtrend with repeated failures to surpass the daily Ichimoku Cloud and the 100-Day EMA average. The price is currently testing the support level, indicating a potential breakout. This chart shows consolidation at the defined resistance levels. Price action below the daily Ichimoku Cloud and the 100-Day EMA average marks a critical point for potential upward movement.

Injective Protocol’s successes in the DeFi space could attract significant interest and investment as the DeFi sector expands. INJ’s higher volatility compared to Bitcoin offers greater potential returns during Bitcoin’s upward movements.

Ordi Chart Analysis

ORDI/BTC chart shows a downtrend with consolidation below the daily Ichimoku Cloud and the 100-Day EMA average. The price is near a support level, indicating a potential breakout.

This chart shows consolidation with key resistance levels defined. Price action below the daily Ichimoku Cloud and the 100-Day EMA average indicates a possible upward trend. Ordinals (ORDI), a cryptocurrency project using the Bitcoin ecosystem, could gain significant momentum and increase interest in the entire Bitcoin ecosystem if Bitcoin rises.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 31 May, 2024 - 8:17 pm 31 May, 2024 - 8:17 pm
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