Historical bottom from Bitcoin DOM!

The market dominance of crypto king Bitcoin is decreasing day by day. So much so that the needle on the Bitcoin DOM graph shows the lowest level of the last 3 years.. So what now?

Is Bitcoin falling out of favor?

Cryptocurrency markets remain unstable. Cryptocurrency, which is already volatile enough and cannot instill the necessary trust in its investors, is drifting into complete chaos with the entry of businessman Elon Musk, one of the richest in the world, into the industry and acting even more indecisively than Bitcoin.

It is. Although Musk, one of the most ardent supporters of Bitcoin at first, announced that the vehicles produced by Tesla, the electric vehicle company he owned, would be sold with Bitcoin, a few days ago, he abandoned this decision and suspended the sale of Tesla vehicles for BTC on the grounds that BTC increased fossil fuel consumption.

This chaos environment caused BTC, which was already on the decline, to regress from 63,000 $ to 42,000 $ within a few weeks.. However, these statements by Elon hit the Bitcoin DOM chart the most.. So much so that after these statements, people’s interest in Bitcoin decreased considerably, and the Bitcoin market dominance rate decreased to 40%.. This rate made history as the lowest percentage recorded on the Bitcoin DOM chart in the 3 year period since April 30, 2018.

Plenty of Liquidations in the Crypto Market!

According to data from Bybt, more than $2.4 billion long transactions in the last 24 hours as a result of the market crash caused by Elon Musk’s Bitcoin tweets exposed to liquidation. While a total of 303,836 traders suffered from this distasteful transaction, the largest single liquidation transaction took place on the Huobi exchange, which lost nearly $90 million in capital.