Bitcoin failed to break through the $71,000 level and fell to just under $70,000. However, altcoins pulled back even more, which increased BTC's dominance to almost 50% . Despite the correction, BTC continues to strengthen its position in the market.

Altcoins are in trouble as most of them turned red today, with Ethereum leading the way, down 3% to $3,550. Binance Coin, Solana, Ripple and Cardano were also down 3-5% .

The total capitalization of the crypto market has fallen by more than $50 billion since yesterday's peak and stands at less than $2.8 trillion.