TradingView analysts recorded a collapse of bitcoin’s dominance to 0%

Yesterday, on December 26, 2024, the TradingView platform experienced a glitch that briefly dropped the dominance of bitcoin BTC $104,926.45 Bitcoin 0.62% Market capitalization $2.08 trillion VOL. 24 hours $2.58 billion in the cryptocurrency market to zero. Usually, this indicator is kept at over 58%. This mistake caused panic among traders and significantly affected the market, causing losses in futures contracts that exceeded $ 27.5 million in an hour.

Due to the failure, the price of bitcoin on Binance fell to $ 95,287. Analysts speculate that the error could have been caused by technical problems with the interface, but there has been no official comment from TradingView.

Such events have already occurred in the past. For example, in 2021, the bitcoin rate fell by 87% on the Binance.US platform due to the human factor. These incidents demonstrate how technical failures can significantly affect the market, provoking panic selling.

At the time of writing, bitcoin’s dominance rate has recovered to around 56.9%. The crypto community is actively discussing the situation, and some market participants are sarcastically thankful for the opportunity to buy assets at a lower price. In turn, experts urge traders to remain calm in such situations, as technical failures are often temporary and do not indicate fundamental problems in the market.