Bitcoin price (BTC/USD) sees modest gains after strong start on Tuesday

The Bitcoin dominance hits fresh 2018 high, as altcoins underperform

Bitcoin price (BTC/USD) sees modest gains after strong start on Tuesday

The Bitcoin price (BTC/USD) has seen modest gains in today’s morning session, outperforming the wider cryptocurrency market.

The original cryptocurrency spent the better part of yesterday’s session defending the $6,300 level it topped during the Sunday session. The digital coin made a tentative attempt to rally in the morning, but its advance only led to an intraday high of $6,374.98. The coin retreated to lower levels in the afternoon and eventually closed the session at $6,329.70, slightly up from its opening level of $6,301.57.

Bitcoin had a start to today’s trading, with its price rising steadily during the early hours of the session. Still the coin was forced to pull back after encountering stiff resistance near the $6,400 mark. At the time of writing, the Bitcoin price was hovering around $6,350, according to digital currency tracker Coinmarketcap.

Bitcoin’s gains today, while not particularly impressive, demonstrate the coin’s greater resilience relative to its major crypto rivals. At the moment BTC is one of only three top 10 coins – the other two being Stellar (XLM) and Monero (XMR) - that have seen gains over the past 24 hours. While the coin suffered significant losses amid last week’s crypto slump, it has managed to somewhat mitigate its decline, whereas altcoins, such a Ethereum (ETH), fell to fresh 2018 lows. As a result, the Bitcoin dominance has hit 56.1% today, which is its highest level this year.

In today’s trading, the Bitcoin price stood at $6,353.35, as of 10:21 BST. The digital coin has gained 0.4% in the past 2 hours, Coinmrketcap data shows. Its total market cap currently stands at $109.6 billion, which represents 56.1% of the combined value of all digital currencies.

For further information on how to buy and trade Bitcoin, see our comprehensive Bitcoin guide.

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