The bitcoin dominance rate, which measures bitcoin's share of the total crypto market, has reached a nine-month high of 45.5%, according to TradingView data.
BTC dominance has historically risen during periods of high stress because it is considered a less-volatile asset than most other cryptocurrencies.
The recent surge in BTC's dominance rate coincides with a nearly three-day surge in bitcoin's price, which soared past $26,000 after the release of favorable consumer price index data for February.
A bitcoin dominance run is seen as healthy for the crypto market, as it signals that traders are choosing to buy bitcoin over more speculative altcoins.
BTC's dominance has also strengthened while stablecoin unrest has surfaced, with the world's second-largest stablecoin USDC depegging from the dollar following the collapse of Silicon Valley Bank.
Source: https://finance.yahoo.com/news/bitcoin-dominance-reaches-9-month-163953991.html