The 1st one: given that the dragon is the main subject of the cover artwork, I don’t like to have the letters too close to the dragon’s face. It doesn’t cover much but the mere overlapping with its horns is not a good idea.
The 2nd one: This has multiple issues. Firstly, the blue bar, I assume is to emphasise the title, is smaller than the letters of the title. You don’t want to have a messy design with letters spilling out of its box since a few letters are really hard to see unless concentrated. Secondly, the artwork has a pattern of line going downward to the right. The dragon’s face, jaws and eyes are all facing downward to the right. The same goes for its left wing, tail, and posture. Typically, I do not like to have something goes against this pattern in a cover. That’s why I hate that blue bar even more. I would suggest putting it to the left and turn it from left downward to right downward to match the overall pattern.