Bitcoin Dominance Hits 15% higher than last year! But what does this really mean for the crypto market?
Bitcoin dominance measures BTC's share of the total crypto market cap.
Here's why it matters:
âą Millions of new tokens emerge yearly, but most struggle to retain value
âą Only 7 of the top 50 coins showed positive returns in the last 90 days
âą Market liquidity is low, with most flowing into or staying with Bitcoin
What's driving this trend?
âą Ethereum's dominance dropped from 17-18% to 13-14% over the past year
âą Investors seem to favor Bitcoin's stability in uncertain times
âą The much-anticipated "alt season" remains elusive
Key Takeaway:
The crypto market is consolidating around Bitcoin, reflecting a cautious investor sentiment.
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