Bitcoin dominance, which indicates the volume of Bitcoin in the crypto money market, has started to rise again. Bitcoin dominance (BTC.D) has risen close to 5% in the last 5 days and reached 41% levels.
The rise of Bitcoin dominance often negatively affects altcoins. BTC.D, which reached its highest level in recent times on June 9, has experienced an increase in altcoins with the decline it has experienced since then. In this process Ethereum almost doubled on the rise Solana 75%, AVAX if to 120% near rise demonstrated performance.
For altcoins to rise, Bitcoin should not fall while Bitcoin dominance falls. Also, at the same time as Bitcoin is stable or rising. If BTC.D goes up for other cryptocurrencies as a bullish signal conceivable.
Bitcoin dominance 19 January – 9 June between with a 20% increase The price of Ethereum, the cryptocurrency with the highest value after Bitcoin, is in this process. more than 75% had fallen. Cryptocurrencies, which have recently recovered a little, have started to move into Bitcoin with the increase in dominance again. may decrease accordingly.
In the event that both Bitcoin dominance decreases and Bitcoin price decreases, altcoins will continue to seek a new bottom. thought to enter. It may be the best time to invest in a situation where altcoin prices are at the bottom after BTC.D’s peak.
- The data contained in the content are the editor’s own thoughts. Investment advice not included.