On Thursday, bitcoin experienced a sharp decline of 4% due to a technical glitch on the popular TradingView platform. The glitch occurred on the bitcoin dominance chart, where bitcoin's share of the total cryptocurrency market suddenly dropped to 0%. As a result, the BTC exchange rate collapsed from the area of $99700 to $95100. This anomaly, which was quickly corrected, presumably caused a sharp trading reaction that led to a drop in the bitcoin exchange rate. Traders were surprised by this reaction, as the failure on TradingView should not have had such a strong impact on the market. This incident highlights the importance of bitcoin's dominance in the market, which is becoming an increasingly relevant topic for traders. In recent weeks, new historical highs of bitcoin have left altcoins in a difficult position. In mid-November, bitcoin's dominance level briefly exceeded 61.5%, and then turned around, which gave reason to hope for the onset of the «altseason.» However, the TradingView glitch showed that even small technical errors can have a significant impact on the market.
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