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Bitcoin Eyes $11,000 as Altcoins Continue to Bleed Against It: Crypto Market Watch

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The Bitcoin market has taken an interesting turn today, as the cryptocurrency, for the first time in almost two weeks, broke the resistance levels of $10,200 and $10,500 and is headed for $11,000. At the time of writing, BTC was changing hands at $10,779. 

What makes the new bullish run even more interesting is that the BTC Dominance Index, which measures its  share of the overall market, has surged to about 66.4%. This has left altcoins out in the cold once again, as most of them have suffered against Bitcoin.

Only ETH and BCH followed Bitcoin in its positive price spike against the dollar today, while other major coins suffered losses of between 1% and 2% on the daily chart. 

The total market cap is ~$290 billion | Bitcoin’s market cap is ~$193 billion | BTC dominance is 66.4%

Major Crypto Headlines

The CFTC Fintech Chief Who Oversaw Early Blockchain Trials Is Leaving. Daniel Gorfine, director of the U.S. Commodity Futures Trading Commission’s (CFTC) experimental fintech initiative, has decided to step down from the agency to pursue employment in the private sector. 

Zambia SEC Warns Against Investing in Promoted OnyxCoin Cryptocurrency. The country’s regulator has made efforts to warn the country that the “OnyxCoin” cryptocurrency project is not authorized to raise funds from the public or give investment advice either within or outside Zambia. 

Bitcoin Surges $700 as Trump’s Latest China Slam Puts Global Stock Markets in the Red. After U.S. President Donald Trump tweeted that he would impose a 10% tariff on $300 billion worth of Chinese goods, the traditional markets responded with a hard crash and investors are seemingly moving to bitcoin and gold as hedges. 

Most Significant Winners and Losers

NOIA Network (+67.17%)

Just three days after being listed on CoinMarketCap, NOIA has emerged as the most significant gainer in today’s trading session. The NOIA Network aims to use “Segment Routing, IPv6, and Distributed Ledger technology to create a global Software Defined Network (SDN) on the public Internet.” At the time of writing, the token is trading at $0.0895 with a daily trading volume of $1,310,873, indicating a 67.17% rise against the dollar.

1irstcoin (+53.80%)

Good news for 1irstcoin (FST) investors as the cryptocurrency’s price has hit an all-time high. At the time of writing, 1irstcoin is worth $14.54, representing more than a 5,200% gain for investors since launch. This new bullish run has positioned the token as the 75th cryptocurrency by market cap, according CoinMarketCap. FST possesses a market cap of $89,180,060 with a daily trading volume of $726,458. The project conducted its IEO on the P2PB2B exchange last week, which could be the reason for the recent surge in value. 

Cryptaur (-44.35%)

With losses of over 44% against the dollar, Cryptaur (CPT) is the biggest loser in the market today and is currently trading at $0.001166. Today is just another bad day for CPT investors. The token possesses a market cap of $10,075,565 with daily trading volumes hovering around $698,006 across all exchanges.

The post Bitcoin Eyes $11,000 as Altcoins Continue to Bleed Against It: Crypto Market Watch appeared first on CryptoPotato.

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