Bitcoin and other cryptocurrencies are consolidating near recent highs.
Bitcoin is holding up following a strong bounce from $30,000 support.
Bitcoin gave up some gains on Wednesday, suggesting the short-squeeze rally is fading.
Some analysts are optimistic while others prefer to see stronger signs of upside momentum before calling a bottom.
Dominance is at the lowest level since April 2018, suggesting traders are rotating into ether and other altcoins.
Atcoins are rising, ether hits another all-time high and bitcoin’s correlation to gold drops to zero.
Bitcoin’s dominance is less than half of the crypto market as assets like ether and binance coin captivate traders.
Bitcoin’s stagnant market is due to investors continuing to explore other cryptocurrencies, says one trader.
Bitcoin's share of the overall industry market capitalization has fallen as ether and other altcoins have surged in price.
The price of bitcoin has changed little over the past 24 hours, despite the asset’s notorious volatility.
Bitcoin prices have doubled this year, but several major altcoins have risen by many multiples.
Bitfinex says the perpetual swap provides investors with a less volatile form of exposure compared to a plain-vanilla bitcoin futures contract.