- Bitcoin dominance reaches 62.18 %, up from 53 % in December.
- The increasing number of new symbols weakens the capital flow to Altcoins.
Bitcoin’s dominance in the encryption market increased to 62.18 %, up from 53 % in December. Despite the expectations for the Altcoin season, BTC Continuing To earn a market share. Traders usually expect the capital to rotate to Altcoins after Bitcoin. However, this transformation did not happen as expected.
Why is Bitcoin’s hegemony escalated?
Several factors have contributed to the increasing dominance of bitcoin. Founding investors continue to accumulate Bitcoin and increase demand. Companies like the strategy constantly collect money to buy more BTC. This creates sustainable pressure to buy, and maintains the height of the bitcoin.
The launch of the stain Bitcoin etfs It also strengthened the bitcoin position. These investment funds provide institutional investors easier to Bitcoin. Meanwhile, most Altcoins lack similar financial tools. This BTC has made the preferred option for traditional investors.
Another major factor is the increasing number of new symbols. With many options, capital is spread through different assets instead of focusing on the applicable altcoins. This turned out of the possibility of mobilizing altcoin.
Many approvals expect Ethereum ETF to reduce Bitcoin’s dominance. However, its effect was smaller than expected. While ETH ETFS has seen strong preliminary flows, they failed to strengthen the broader Altcoin market. As a result, BTC is still the dominant strength.
Is Altcoin still possible?
Some analysts believe that the Altcoin season has been delayed only, and has not been canceled. Rekt Capital is a major technical indicator. According to him, if the maximum Altcoin market is closed above $ 250 billion, this may lead to a crowd.
Altcoins recently recovered from a sharp decrease in early March. The total ceiling of the Altcoin market fell shortly to less than 200 billion dollars before returning. He is now sitting at about $ 249 billion. A certain outbreak of $ 250 billion can pay about $ 315 billion in the market. However, reaching the highest level in December 2024 of $ 451 billion will require more momentum.
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