Bitcoin (BTC<\/a>) declined as Wall Street trading opened on Dec. 13 as stocks came off Dec. 10\u2019s record close.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a>\u00a0showed BTC\/USD diving below $48,000 to reach multi-day lows at the time of writing.<\/p>\n Equities had been tipped to add to all-time highs prior to the start of trading, this getting off to a cold start on the day, with gains slipping.<\/p>\n Correspondingly, Bitcoin added to losses that totaled over $3,000 in 24 hours.<\/p>\n Traders thus continued to eye sideways or consolidatory movements for the near term, steering clear of any outright bullish calls.<\/p>\n \u201cSomething like this would drive people nuts,\u201d Scott Melker, known as the Wolf of All Streets, commented<\/a> on a fresh chart prediction. <\/p>\n \u201cThis is what I have been preparing myself for since the drop 10 days ago. I would prefer Up Only, so let\u2019s hope that\u2019s what we get.\u201d<\/p><\/blockquote>\n Others had already called that limp price action would conclude 2021, this countered by on-chain metrics<\/a> calling for a return to strength for markets.<\/p>\n \u201cBTC\u00a0may be repeating the consolidation period it also experienced following its May 2021 crash,\u201d trader and analyst Rekt Capital added<\/a> on the day.<\/p>\n He highlighted Bitcoin\u2019s 50-week and 21-week exponential moving averages as support and resistance levels, respectively.<\/p>\n Altcoins looked bleak as Bitcoin fell, fueling suspicions that the return of \u201caltseason\u201d may have to wait.<\/p>\n Related:\u00a0\u2018I think BTC is ready\u2019 \u2014 5 things to watch in Bitcoin this week<\/a><\/em><\/strong><\/p>\n Bitcoin market cap dominance, while hovering near six-month lows, managed to bounce back above 40% after a brief breakdown on Dec. 9.<\/p>\n Alts look rekt. pic.twitter.com\/PGRvvJdQys<\/a><\/p>\n \u2014 filbfilb (@filbfilb) December 13, 2021<\/a><\/p><\/blockquote>\n The latest move further threatened the stronger outliers in the altcoin story in recent weeks, notably the exchange rate of Ether (ETH<\/a>) against Bitcoin, which reversed from three-year highs<\/a> to challenge new support.<\/p>\n \u201cOverall, just a small conclusion, I think we are in buy-the-dip zones,\u201d Cointelegraph contributor Micha\u00ebl van de Poppe argued<\/a> regarding the broader major-cap altcoin scene in his latest YouTube update.<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/b2584171-c7c9-4221-b2d7-9aae9da3b726.png\")
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Bitcoin preserves 40% market cap dominance<\/h2>\n
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