The crypto market just saw some slight recovery, but the performances are upside down. Opposite to the way sellouts usually play out, the Bitcoin dominance dropped dramatically as the asset is underperforming the Small Cap index.
From last November’s $3 trillion market cap, the crypto market is now down to around $800 billion:
Crypto total market cap down to $879.871 billion in the daily chart | Source: TradingView.com
Smaller Altcoins Make A Strong Comeback
Last week the crypto market saw its bottom, followed now by some slight recovery. As per Arcane Research’s latest weekly report, the smaller altcoins have also been seeing red numbers with the Small Cap index shedding 27%, but it has been the best performer overall.
In contrast, Bitcoin had dropped 35%. Through this small window of relief during June, we have seen the blue-chip coin underperform all other indexes.
Bitcoin underperforms all crypto indexes in June | Source: Arcane Research
As a result, BTC’s dominance in the market fell -1,51% this week to 43,5% while Ether fell - ..
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