Bitcoin Although it dropped slightly after the tension between Israel and Hamas started, it is trying to maintain the level of 27,000 dollars.
While BTC is trying to maintain its current level, BTC dominance has approached its highest level in the last few years.
According to TradingView data Bitcoin dominance It rose to 51.2%, approaching the two-year high of 52% seen in June.
Evaluating the increase in Bitcoin dominance, experts say that this increase altcoins He said that it showed that he was flocking to Bitcoin, the world’s first and largest cryptocurrency, instead.
Experts largely attributed this increase to the economic uncertainty resulting from the ongoing Middle East crisis and said that it is normal for Bitcoin, which is seen as a safe haven in the crypto market, to increase its dominance, especially in times of uncertainty.
What is Bitcoin Dominance?
Bitcoin dominance is a data showing what percentage of the total money in the market is in BTC.
In general terms; It is understood that when this rate decreases, money flows into altcoins, and when it increases, money flows out of altcoins and this money flows into BTC.
*This is not investment advice.
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