Bitcoin Dominance Rate Hits 2018 High

Yesterday’s warning signs proved correct yet again, as several major altcoins dropped below their August lows, leading another leg lower in the ongoing bear market in the cryptocurrency segment. Ethereum was the most notable laggard, losing double digits and breaking below the key $180 level for the first time since July, 2017.

Bitcoin held up well once again, and it is still hovering around the $6275 level that has been at the center of attention for almost a week now. The strong divergence between BTC and the rest of the market continued, with the market share of the largest coin breaching the 58% level, as altcoins crashed across the board.

XMR/USDT, 4-Hour Chart Analysis

Although correlations are still sky high, and volatility jumped higher as expected, there are also some positive signs present besides Bitcoin’s stability. Ripple managed to hold above the August low despite its relative weakness, Monero is still well above its respective bear market low,…