Bitcoin dominance has been rangebound between 39-49% for the last 2 years, since the previous bull run when BTC was over $60,000.
In the last couple of days, BTC.D has been pushing the top end of that range and approaching 50%. When BTC.D pushes new highs or lows, it often coincides with major market moves or changes in trend. If BTC.D is breaking out of the range higher, that would mean that BTC is getting a proportionally larger amount of the crypto market share and there are a couple of scenarios:
Bitcoin price pumps, altcoins remain stable
Bitcoin remains stable, altcoins drop
Bitcoin drops, and altcoins drop significantly more
These are the 3 major methods for a BTC.D move higher to occur. With recent news about major altcoins being listed as securities, upcoming US market news, and heavily split sentiment, it can be tough to predict or anticipate how this move will play out.
Bitcoin dominance has been rangebound between 39-49% for the last 2 years, since the previous bull run when BTC was over $60,000.
In the last couple of days, BTC.D has been pushing the top end of that range and approaching 50%. When BTC.D pushes new highs or lows, it often coincides with major market moves or changes in trend. If BTC.D is breaking out of the range higher, that would mean that BTC is getting a proportionally larger amount of the crypto market share and there are a couple of scenarios:
These are the 3 major methods for a BTC.D move higher to occur. With recent news about major altcoins being listed as securities, upcoming US market news, and heavily split sentiment, it can be tough to predict or anticipate how this move will play out.