Bitcoin Faces Key Resistance at $120,000 as Dominance Grows Amid Altcoin Weakness
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
Contents
Bitcoin recently retreated from its all-time high of $123,288, now trading around $117,190. With Bitcoin dominance at 58.99%, the market is showing stronger control by BTC as altcoins lag behind.
-
Bitcoin dominance surged to 58.99%, indicating stronger market control.
-
BTC pulled back to $117,190 with support at $116,813, while resistance is now at $119,504–$120,000.
-
Altcoin futures open interest fell by 3.04%, while Bitcoin liquidations dropped by 69% to the lowest since July 2025.
Bitcoin news: BTC retreats from $123,288, with rising dominance over altcoins. Stay updated on market trends!
What is Bitcoin’s Current Market Position?
Bitcoin is currently trading around $117,190 after a significant pullback from its all-time high of $123,288. The Bitcoin dominance has risen to 58.99%, indicating a stronger market position compared to altcoins.
How Does Bitcoin’s Dominance Affect Altcoins?
Bitcoin’s dominance impacts altcoins significantly. With the CMC Altcoin Season Index at 41, altcoins are lagging behind BTC. Despite Ethereum’s 5.95% weekly gain, Bitcoin’s market cap growth of 6.6% surpasses the 6.14% recorded by altcoins this month.
Frequently Asked Questions
What are the key support and resistance levels for Bitcoin?
Key support for Bitcoin is at $116,813, while resistance is found between $119,504 and $120,000.
Why is Bitcoin’s dominance increasing?
Bitcoin’s dominance is increasing due to a higher market cap growth compared to altcoins, indicating stronger investor confidence in BTC.
Key Takeaways
- Bitcoin’s price action: Currently at $117,190, with support and resistance levels critical for traders.
- Market dominance: Bitcoin dominance at 58.99% shows a shift towards BTC over altcoins.
- Trader sentiment: Caution is evident with reduced liquidations and falling altcoin futures open interest.
Conclusion
In summary, Bitcoin’s current market position reflects a strong dominance over altcoins, with key support and resistance levels to watch. As the market evolves, traders should remain vigilant for potential breakout opportunities and shifts in investor sentiment.
