The post Bitcoin Dominance Soars Amid Market Volatility and Institutional Demand appeared on BitcoinEthereumNews.com.

According to recent insights from QCP Capital, released on October 27, the **cryptocurrency market** has experienced notable volatility over the past week. Bitcoin (BTC) attempted to breach the pivotal resistance level of **$69,500** again but ultimately retraced to find support around **$65,000**, signaling a possible bottoming phase. This week also marked a significant milestone with Bitcoin ETFs registering net inflows totaling **$997.7 million**, the third consecutive week showcasing robust **institutional demand**. Bitcoin’s dominance surged, achieving an impressive **59.75%**, while the Ethereum to Bitcoin (ETHBTC) pair fell beneath the critical support of **0.03850**, declining 5.85% to **0.03625**. Reports suggest a US government investigation into **Tether** negatively impacted its stablecoin, causing a drop to **0.9965** before slightly recovering. Meanwhile, geopolitical tensions in the Middle East and anticipation surrounding upcoming **non-farm payrolls data** add layers of complexity to the evolving digital asset landscape. Source: https://en.coinotag.com/breakingnews/bitcoin-dominance-soars-amid-market-volatility-and-institutional-demand/

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Filed under: News - @ October 27, 2024 5:12 am