CandleFocus Bitcoin’s 800-Day Dominance Streak: Will Altcoins Stage a Comeback?
2024-10-31
Author: Content Editor
The BTC.D index, which measures the dominance of Bitcoin in the cryptocurrency market, has seen a bullish run for almost 800 days, currently sitting at around 60%. Market analysts consider this level to be a critical mark, potentially indicating the peak of Bitcoin's dominance. Some analysts are expecting the index to drop soon, giving altcoins an opportunity to push Bitcoin's dominance down. However, until that happens, Bitcoin remains the strongest and leading cryptocurrency. The dominance of Bitcoin has attracted investor attention, with many preferring it over other cryptocurrencies. This dominance is expected to impact investments, as people may be hesitant to add more capital to altcoins until the tide turns. A decline below the 57% level in the BTC.D index could signal a change and potentially lead to a rise in the altcoin market. However, for now, Bitcoin continues to be labeled as the "king" of cryptocurrencies.
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