$BTC Bitcoin Dominance Rising 🔥 - Does this means a Start of a BULL Run?

Recently, Bitcoin dominance hit about 54%, its highest level since July 2021. Bitcoin has also surpassed its yearly high. The rise in Bitcoin dominance indicates growing investor preference for Bitcoin over altcoins.

Several factors can help explain Bitcoin's outperformance:

1️⃣ Bitcoin is seen as the lowest risk cryptocurrency given its longevity, liquidity, and track record. Investors tend to favor lower risk assets like bonds amid uncertainty.  

2️⃣ Bitcoin Season - most of the known Altcoins are bleeding against BTC

- ETH is down 27.48% against BTC YTD

- ADA is down 42.66% against BTC YTD
- MATIC is down 59.64% against BTC YTD

to name a few. Generally speaking, BTC tends to be a safer asset than Altcoins and still is a market mover.

3️⃣ No matter if BTC is moving in an uptrend or downtrend, Altcoins are following its movement.

If BTC gains and then bleeds, most likely Altcoins bleed even more, hence the BTC Dominance going 👆
If BTC loses value, then most likely Altcoins lose even more value, hence the BTC Dominance going 👆

So Bitcoin is still consolidating its status as the crypto market leader during a period of macro uncertainty. Many expect Bitcoin to outperform altcoins through 2023, and until monetary policy eases. 

All of the posts are for education purposes only, DYOR before investing in the Crypto Market
Crypto Markets are considered a risky endeavor.

Talk soon,

Divident Hub 🐋

#BTC🔥🔥 #altcoins.