Market Wrap: Bitcoin Price, Dominance Slips; Ether Hits Fresh Record High Over $2.6K

Pankaj Balani, CEO of crypto derivatives venue Delta Exchange, notes that when looking at a larger trading chart time frame the outlook is starting to look bearish for bitcoin.

Bitcoin’s 30-day annualized volatility, as measured by CoinDesk Research, was at 48.9% on April 21, a long slow fall from 2021’s high of 112.8% 30-day volatility on Feb.

After last weekend’s crypto crash, when the market experienced a record-high $10 billion in liquidations on the derivatives market – the crypto equivalent of a margin call that pushed the crypto market downward – ether’s price performance has been going like gangbusters.

Since the past weekend’s dump, when ETH was at a low of $2,067, according to CoinDesk 20 data, the price has jumped 21% at press time.

Joel Kruger, a cryptocurrency strategist at the LMAX Digital exchange, says market actors are likely getting more sophisticated about investing in assets other than bitcoin, leading to strong ETH buying.

Bitcoin’s price has remained in stasis this week and its dominance slid below 50% for the first time since 2018.

Since the start of 2021, BNB, which can be used on Binance to pay for trading fees, has appreciated from 0.71% market dominance on Jan.

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