Market Wrap: Bitcoin Rises to $32K, Outperforming Altcoins

Meanwhile, most alternative cryptos (altcoins) underperformed bitcoin on Tuesday, which suggests traders are still not comfortable with taking on additional risk. Bitcoin’s market cap relative to the total crypto market cap ticked higher over the past three days after breaking above a yearlong downtrend on May 13. Typically, alts underperform BTC during down markets because of their higher risk profile.