A Remarkable Change Has Happened In Bitcoin (BTC) Market Domination!

Bitcoin (BTC) dominance, the world’s largest cryptocurrency It continues to decline, although it has recorded a relief rally in recent weeks.

In particular, BTC dominance is a crucial metric for the crypto industry, as many assets, especially altcoins, can have other implications for the possible price trajectory.

Bitcoin’s Market Domination Drops To Its Lowest In Four Years

As a matter of fact, as of November 5, Bitcoin market dominance dropped to 38.53%, the lowest level in the last four years. According to CoinMarketCap data, the digital asset last recorded a similar decline in market dominance with 38.19% on June 10, 2018.

This drop coincides with a historical assumption that when BTC dominance drops, it is linked to a rising value and offers a hint of a possible alt season.

Bitcoin dominance is the ratio of the market value of an asset to the rest of the cryptocurrency market. Over the years, it has emerged that this metric has different implications for the entire digital asset industry.

Moreover, the scenario of BTC falling in price and increasing dominance often indicates a possible altcoin bear market. However, when both Bitcoin price and dominance fall, it could signal a potential bearish trend for the overall crypto market.

Additionally, when the value and dominance of BTC rises, this is a potential bull market indicator, while if the price of BTC rises with a falling dominance, it indicates a possible altcoin bull market.

*Not investment advice.