Altcoins appear as Bitcoin seeks near $ 50,000 support by Cointelegraph

Altcoins appear as Bitcoin seeks support near $ 50,000

(BTC) continues to seek direction, but as this has happened Ether and altcoins have rebounded higher after the May 13 sell-off. Dogecoin shocked investors with its 47% rally that started after Coinbase announced that it will list (DOGE) In the coming months. Doge Price also rallied behind Elon Musk tweeted that he “was working with Doge’s developers to improve the efficiency of system transactions.” Potentially promising. “

While many altcoins saw double-digit gains on the rally, the price of Bitcoin (BTC) continued to languish near the $ 50,000 level as whale wallets containing at least 1,000 BTC have 4.7% decrease compared to the previous month, indicating possible profit taking or rotation in different assets.

ETH / USDT 4 hour chart. Source: TradingView
Percentage of total market capitalization dominance. Source: CoinMarketCap
Daily performance of the cryptocurrency market. Source: Room360