Bitcoin’s market dominance (BTC.D) rose to 62.29% today, reaching its highest level in nearly four years, according to TradingView data.
Bitcoin Dominance Reaches 62.29%, Highest Level Since 2021
As of now, Bitcoin dominance stands at 62.22% and has been hovering above 60% for over a month since this threshold was reclaimed on February 2.
Is Market Sentiment At A Halt?
Bitcoin’s continued dominance signals a cooling period for altcoins, while the broader market shows signs of stagnation. Historically, a sharp increase in Bitcoin’s market share has preceded significant shifts in the crypto market cycle.
- November 2023: As Bitcoin dominance reaches 60% for the first time, altcoins see a mini bull run in the following months.
- 2019 & 2021: Bitcoin’s dominance exceeds 70%, leading to a broad market rally that has seen altcoins make significant gains.
While Bitcoin’s current strength reflects investors’ preference for stability, investors are watching for signs of an altcoin resurgence, a pattern that follows historically high levels of BTC dominance.
*This is not investment advice.
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