Summary
- Bitcoin's market cap dominance has reached 64%, marking the highest level since early 2021.
- It was stated that when Bitcoin's dominance rises, it means Bitcoin is performing relatively better compared to altcoins.
- Bitcoin dominance has been on a steady rise since the end of 2022.
On the 18th (local time), according to the cryptocurrency media outlet BeInCrypto, Bitcoin (BTC)'s market cap dominance in the overall cryptocurrency market has reached 64%, marking the highest level since early 2021.
Excluding stablecoins, Bitcoin's dominance is estimated to be around 69%.
The media stated, "When Bitcoin dominance rises, it means Bitcoin is performing relatively better compared to altcoins," and "Conversely, when dominance falls, it indicates increased interest and investment in other cryptocurrencies."
Additionally, it was noted that "Bitcoin dominance has been on a steady rise since the end of 2022."
Meanwhile, BTC is trading at $84,576.18, down 0.49% from the previous day, as of 02:43 on the 19th in the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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