{"id":496770,"date":"2022-07-26T21:05:37","date_gmt":"2022-07-26T21:05:37","guid":{"rendered":"https:\/\/wncen.com\/?p=496770"},"modified":"2024-06-11T07:40:10","modified_gmt":"2024-06-11T07:40:10","slug":"bitcoin-dominance-grows-as-crypto-risk-appetite-remains-low","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-dominance-grows-as-crypto-risk-appetite-remains-low\/","title":{"rendered":"Bitcoin Dominance Grows As Crypto Risk Appetite Remains Low"},"content":{"rendered":"

The crypto market has been moving in the red during today\u2019s trading session with Bitcoin and Ethereum surrendering the past week’s gains. The first cryptocurrency by market capitalization seems to be reacting to the Federal Open Market Committee (FOME) meeting set for tomorrow.<\/p>\n

Related Reading: \u201cBitcoin<\/a><\/div><\/p>\n

During this event, the U.S. Federal Reserve (Fed) is expected to potentially announce an increase in interest rates. Projection aimed at a 75 basis points (bps) hike, but the financial institution might surprise the market with a 100 bps in an attempt to cut down inflation.<\/p>\n

The Consumer Price Index (CPI), a metric used to measure inflation in the U.S. dollar, stands at a 40-year-old high. This has forced the Fed to shift its monetary policy by hiking interest rates, reducing its balance sheet, and removing liquidity from global markets.<\/p>\n

As a consequence, Bitcoin and the crypto market have been trending to the downside. The benchmark crypto saw a period of relative stability when it was able to stabilize at around $20,000, BTC\u2019s price current level.<\/p>\n

The altcoins sector was less fortunate as Ethereum (ETH), Cardano (ADA), Solana (SOL), and other major cryptocurrencies broke below critical resistance. Some altcoins return to their 2020 levels as Bitcoin dominance trended to the upside.<\/p>\n

This is an indication of uncertainty and risk-off sentiment in the crypto market. The metric saw a decline over the past two weeks on the back of expectations of mitigating inflation, supported by a drop in the price of commodities, and the announcement of a date for the Ethereum \u201cMerge\u201d.<\/p>\n

Data from Arcane Research supports the above as the research firm records a decrease in performance for their Large, Mid, and Small Cap Index. As seen below, these indexes have been recording heavier losses than Bitcoin as BTC Dominance picks up bullish momentum.<\/p>\n

\"Bitcoin
Source: Arcane Research<\/figcaption><\/figure>\n

Bitcoin Dominance Spike Hints At Crypto Market Uncertainty<\/h2>\n

Arcane Research noted that the overall weakness in the sector is driven by a \u201cnatural rotation as traders seek safety in a falling market\u201d. The increase in Bitcoin dominance has been accompanied by a rise in stablecoin total market share.<\/p>\n

In other words, market participants are buying Bitcoin and stablecoins to protect them from potential downside risks. The report stated:<\/p>\n

Ether\u2019s lack of strength relative to bitcoin has caused its market dominance to fall 0.34% over the last week. On the other hand, Bitcoin has seen its market share increase by 0.47%. This is a natural rotation as market fall, given that investors perceive bitcoin as a lower-risk asset than ether.<\/p><\/blockquote>\n

Related Reading: \u201cArcane<\/a><\/div><\/p>\n

Tomorrow\u2019s FOMC meeting will decide the short-term fate of BTC dominance and the fate of larger cryptocurrencies.<\/p>\n

\"Bitcoin
BTC’s price moves sideways on the 4-hour chart. Source: BTCUSDT Tradingview<\/a><\/strong><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

The crypto market has been moving in the red during today\u2019s trading session with Bitcoin and Ethereum surrendering the past week’s gains. The first cryptocurrency by market capitalization seems to be reacting to the Federal Open Market Committee (FOME) meeting set for tomorrow. During this event, the U.S. Federal Reserve (Fed) is expected to potentially announce an increase in interest rates. Projection aimed at a 75 basis points (bps) hike, but the financial institution might surprise the market with a 100 bps in an attempt to cut down inflation. The Consumer Price Index (CPI), a metric used to measure inflation in the U.S. dollar, stands at a 40-year-old high. This has forced the Fed to shift its monetary policy by hiking interest rates, reducing its balance sheet, and removing liquidity from global markets. As a consequence, Bitcoin and the crypto market have been trending to the downside. The benchmark crypto saw a period of relative stability when it was able to stabilize at around $20,000, BTC\u2019s price current level. The altcoins sector was less fortunate as Ethereum (ETH), Cardano (ADA), Solana (SOL), and other major cryptocurrencies broke below critical resistance. Some altcoins return to their 2020 levels as Bitcoin dominance trended to the upside. This is an indication of uncertainty and risk-off sentiment in the crypto market. The metric saw a decline over the past two weeks on the back of expectations of mitigating inflation, supported by a drop in the price of commodities, and the announcement of a date for the Ethereum \u201cMerge\u201d. Data from Arcane Research supports the above as the research firm records a decrease in performance for their Large, Mid, and Small Cap Index. As seen below, these indexes have been recording heavier losses than Bitcoin as BTC Dominance picks up bullish momentum. Bitcoin Dominance Spike Hints At Crypto Market Uncertainty Arcane Research noted that the overall weakness in the sector is driven by a \u201cnatural rotation as traders seek safety in a falling market\u201d. The increase in Bitcoin dominance has been accompanied by a rise in stablecoin total market share. In other words, market participants are buying Bitcoin and stablecoins to protect them from potential downside risks. The report stated: Ether\u2019s lack of strength relative to bitcoin has caused its market dominance to fall 0.34% over the last week. On the other hand, Bitcoin has seen its market share increase by 0.47%. This is a natural rotation as market fall, given that investors perceive bitcoin as a lower-risk asset than ether. Tomorrow\u2019s FOMC meeting will decide the short-term fate of BTC dominance and the fate of larger cryptocurrencies.<\/p>\n","protected":false},"author":535,"featured_media":495427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790],"class_list":["post-496770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Dominance Grows As Crypto Risk Appetite Remains Low<\/title>\n<meta name=\"description\" content=\"The crypto market has been moving in the red during today\u2019s trading session with Bitcoin and Ethereum surrendering the past week's gains.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Dominance Grows As Crypto Risk Appetite Remains Low","url":"http:\/\/wncen.com\/news\/bitcoin-dominance-grows-as-crypto-risk-appetite-remains-low\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-dominance-grows-as-crypto-risk-appetite-remains-low\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/bitcoin-7.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/bitcoin-7.jpeg?fit=900%2C500"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt"],"dateCreated":"2022-07-26T21:05:37Z","datePublished":"2022-07-26T21:05:37Z","dateModified":"2024-06-11T07:40:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Dominance Grows As Crypto Risk Appetite Remains Low\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dominance-grows-as-crypto-risk-appetite-remains-low\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dominance-grows-as-crypto-risk-appetite-remains-low\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/bitcoin-7.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/bitcoin-7.jpeg?fit=900%2C500\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2022-07-26T21:05:37Z\",\"datePublished\":\"2022-07-26T21:05:37Z\",\"dateModified\":\"2024-06-11T07:40:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/bitcoin-7.jpeg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/496770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=496770"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/496770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/495427"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=496770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=496770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=496770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}