Bitcoin Takes Control In Market Meltdown, Dominance Climbs To 9-Week Peak
The cryptocurrency market is currently experiencing significant turbulence, prompting a shift in investor behavior towards Bitcoin, which has traditionally been seen as the safest asset within the digital currency ecosystem. Related Reading: Altcoin Massacre? Prices Plummet 40-90%, Recovery Stalled — Analyst This shift has resulted in Bitcoin’s dominance climbing to a nine-week high of 57%. Amidst the market chaos, Bitcoin has emerged as a beacon of relative stability, while altcoins are bearing the brunt of the sell-off. Flight To Safety: Bitcoin’s Rising Dominance In times of....
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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 […]
The winds of change are blowing through the Ethereum (ETH) ecosystem. Despite tentative signs of recovery after recent dips, the price has struggled to stay afloat in the last 30 days. Additionally, a more intriguing trend has emerged: a mass exodus of ETH from cryptocurrency exchanges. This movement, marked by declining exchange supply and net outflows, has analysts buzzing with potential bullish implications. Related Reading: Bitcoin Takes Control In Market Meltdown, Dominance Climbs To 9-Week Peak Dwindling Stockpiles: Exchanges Feeling The Squeeze For years, cryptocurrency exchanges....
Bitcoin dominance patterns are showing similar lows and an eerie resemblance to 2017. So what does this suggest for BTC price? For the purposes of historical comparison, it’s also worth noting that the pattern of the dominance chart currently looks much like it did during the earlier part of 2017.As the markets have gone into meltdown since May 12, Bitcoin (BTC) dominance has fluctuated dramatically, bucking 2021’s prevailing trend. Before the sell-off started in earnest, BTC dominance had been falling pretty steadily from around 70% in January to a low of under 40% by the time the crash....
Bitcoin dominance, the metric that measures bitcoin’s overall market capitalization against all the other crypto asset valuations has dropped considerably in recent weeks. At the end of February, bitcoin dominance levels started sliding downward from 61% to today’s 50%. Meanwhile, from the same point in time ethereum’s market capitalization has increased from 11.8% to today’s 14.5%. Bitcoin Dominance Sinks to 50% Ever since the birth of alternative crypto assets, people have used a metric called bitcoin (BTC) dominance, a measurement that records BTC’s entire....
Bitcoin’s dominance of the crypto market has been on the rise. This naturally comes with every downtrend in the market because although bitcoin takes a hit, the altcoins always record the worse losses, leaving them with less dominance of the market. Bitcoin’s dominance has however not stopped here. It has now spilled onto the derivatives market where the dominance of the pioneer cryptocurrency is even more apparent. Bitcoin Open Interest Surges The general open interest in the crypto market has been on a decline since the market took a hit in December. This is currently sitting at about....