Bitcoin's market share hits a three-year high, Musk calls for DOGE to surge 15%, is the bull market really coming back?

Judging from Bitcoin dominance (BTC.D) and historical data, the current market may be at the intersection of the late bear market and the early bull market. Due to the promotion of Bitcoin spot ETF, Bitcoin broke out ahead of schedule in this round of market, making the bull market seem to be one year ahead of schedule. If the market cycle continues to follow the past rules, then now is likely to be the starting point of a new round of bull market.

Looking back at Bitcoin's market dominance, according to TradingView data, BTC.D is currently 58.9%, the highest level since April 2021. In early 2021, Bitcoin's market share began to fall from a high level, and there was a sharp adjustment in April, followed by a strong rebound in July. In September 2018, BTC.D broke through 58.9% for the first time. Although the price was still sluggish at the time, Bitcoin finally broke out of the trough as BTC.D continued to rise.

On the other hand, if Trump is re-elected, Dogecoin is also likely to usher in a strong rise.

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