Altcoins Bleeding Out As Bitcoin Heads Lower (Market Watch)

Bitcoin tanked to $11,400 briefly, but large-cap alts are losing more substantial chunks of value, thus helping BTC to reclaim some ground in terms of market domination. After surging in value yesterday, the altcoin market has retraced heavily today against both the US dollar and Bitcoin.

The most substantial losers against the dollar are OMG Network (-25%) after yesterday’s massive surge, Qtum (-23%), Swipe (-21%), Status (-18%), Band Protocol (-15%), Terra (-14%), and iExec RLC (-12%). Consequently, Bitcoin’s dominance has increased in the past 24 hours to 59.5% after dumping to 58.7% yesterday.

Timeline of Bitcoin, Qtum, Rlc, Status, Omisego