Bitcoin’s Dominance Increases as Altcoins Experience a Decline

Nevertheless, the downward trend extends beyond just BTC. Ethereum (ETH) and numerous other alternative cryptocurrencies, commonly referred to as altcoins, have also experienced price corrections. As a result of the overall decrease in the value of altcoins, Bitcoin’s dominance has once again surged following a significant decline on April 28th. As of the current moment, Bitcoin’s dominance stands at 50.9%. The selling pressure on BTC has eased in the past few hours due to a reduction in exchange reserves.