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Crypto Market Update

Market Cap: $271 B

BTC Dominance: 70.5%

BTC: $10,666

ETH: $180

XRP: $0.262

This week was calm in terms of trading until Bitcoin skyrocketed in the last day and boosted the overall market confidence along with the price. One of the reasons for the increase is probably related to the Bakkt's trading platform that will launch in the coming days.

Tether continues to print and most of the volume currently comes from stable coins like USDT and others.

The altcoins continue to lose dominance, but the declines are less steep. However, there are some cryptocurrencies that broke their own floor, which is not a good sign for their future.

The market continues the correction and despite Bitcoin's latest increase, most analysts expect a sharp downturn. Our view on the subject is that as the sharp rise from $6000 could not be predicted, it is difficult to predict the market today, and it should be remembered that the market does not always behave according to market analysts' predictions.

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