Bitcoin (BTC) is heading for dominance, pressuring altcoins as its price inches up to $13,000. BTC traded at $12,937.60 as of 7:30 UTC on Monday, and is the only coin with significant weekly gains of above 14.5%.
At the same time, most altcoins lost around 15% against BTC in the past week, extending and deepening the slide of the past few months. BTC once again delayed the altcoin season, while enticing investors with promises of robust gains and high liquidity.
Even the hottest tokens and projects sank deeper in BTC terms, wiping out 20% of their price in Satoshis. This brought the dominance of BTC to above 65%, with the potential to grow further. While the dollar price for some assets is up above 200% this year, the 2019 rally is mostly on the back of BTC.
The BTC climb continued despite recent news that the New York Attorney General was tightening its grip on the iFinex case,...