Bitcoin’s update
Bitcoin’s market cap dominance has surged to 54.5%, according to data from TradingView. This marks the highest value for Btcoin‘s dominance metric since July 2021.
Coin dominance is the ratio of a cryptocurrency’s market cap to the cumulative market cap of all cryptocurrencies. It is calculated by dividing the coin’s market cap by the overall market cap of the top 125 coins and multiplying the result by 100.
The fact that Btcoin has reached a three-year high in dominance could indicate a potential altcoin bull run.Analysts interpret these shifts as indications that investors are seeking higher returns from riskier assets, which may also reflect a similar trend in Btcoin and altcoins.
