Bitcoin’s Market Dominance Rises To 60%, Is BTC Poised For Even Greater Control?
Both retail and institutional adoption and interest in Bitcoin continue to see notable growth following the recent price upswing over the past week, which has led to a huge rise in BTC’s dominance over other cryptocurrency assets in the market. Bitcoin’s Market Dominance Almost Over With Bitcoin persistently witnessing a significant price rally, its dominance […]
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BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....
Bitcoin has maintained its dominance on the altcoin market even amidst the ongoing price corrections. The leading cryptocurrency has been in the spotlight throughout this market cycle, but a technical outlook suggests that it needs to give way. Particularly, a crypto analyst known as Seth on social media platform X pointed to Bitcoin’s dominance relative strength index (RSI) as a crucial factor that must change before Bitcoin and the broader market can kick off another leg upward. Bitcoin Dominance RSI Hits New Level Seth’s latest analysis, shared on social media platform X, highlights a....
BTC dominance can directly affect altcoins by displaying the market’s trading volume in BTC vs. altcoins. Bitcoin (BTC) is both the first and the most prominent cryptocurrency in the world when it comes to market capitalization as well as trading volume. These factors are quite significant, considering that all cryptocurrencies trade against Bitcoin and Bitcoin’s dominance can actually serve as a valuable indicator when trading all different types of cryptocurrencies.This post will offer insight on how to trade cryptocurrency while utilizing the Bitcoin dominance indicator and how to read....
In a recent trend evident on crypto charts, Bitcoin dominance is once again on the rise, prompting some traders and investors to rethink their strategies concerning altcoins. An in-depth analysis of the data, coupled with insights from prominent crypto analysts, unveils several compelling reasons to exercise caution when considering an altcoin purchase at this moment. Historical Precedence Bitcoin’s market dominance – its market cap relative to the entire cryptocurrency market – has historically been a leading indicator of market sentiment. If Bitcoin dominance is increasing, it....
BTC.D rises in price as altcoins suffer a bloody day in crypto. BTC.D attempts to break out above 8, and 20-day Exponential Moving Averages as altcoins struggle to hold their key support. The price of BTC.D eyes a rally to 48% as this could mean more pain for altcoins. Many altcoins have experienced a relief bounce across the market as Bitcoin Dominance (BTC.D) remains below the 40% marked area allowing altcoins to rally when the market recovers. With Bitcoin Dominance (BTC.D) rising from the ashes, we could see the price of altcoins suffering more pain than expected if the price....