Bitcoin (BTC) market dominance has increased by over 5% after the SEC’s lawsuits against Binance and Coinbase, approaching 50%.
Some altcoins by the US Securities and Exchange Commission (SEC) qualifying it as a security then investors exited the altcoins in question. Accordingly, of bitcoin Bitcoin dominance, which expresses its dominance over the cryptocurrency market (BTC.d) Last week, according to data from Tradingview 5% of increasing on the last highest in 2 years with level to 49.66% reached.
According to the data, the total market value of the cryptocurrency market as of writing 1.09 trillion This value is saved as 503 billion The dollar is made up of Bitcoin.
It was noted that Bitcoin dominance reached its highest level since May 2021. Bitcoin dominance continue to rise In this case, altcoins may experience further declines. However, if Bitcoin dominance rises with the money inflow to the market, big increases can be observed as there will be an inflow of money into altcoins.
In addition, the increase in dominance in Bitcoin is at the same rate as altcoins. losing market share means. At this point, it is expected that a sharp move by Bitcoin will cause a greater impact on altcoins.
On the other hand, Popular cryptocurrency trader sketchin Bitcoin market share increase before the collapse first stage defined as.
The increase in Bitcoin’s market dominance, of the US Securities and Exchange Commission (SEC) last week Binance And to Coinbase many cryptocurrencies in lawsuits filed securities associated with its designation.
After the SEC’s claims, the securities in the file Cardano (ADA), Solana (SOL), and Dash (DASH) end 7 days in to 30% arriving depreciation qualifying securities from the danger thought to be far in BTC depreciation during the relevant period limited to 3% left.
According to Coinecko data, the latest 30 days in 3.3% depreciating BTC, end 24 hours in 0.6% by gaining value as of writing $25,966 traded at the level.