According to crypto analysts, Bitcoin’s dominance in the cryptocurrency market may have peaked as traders shift their focus to altcoins.
The decrease in Bitcoin’s dominance suggests a potential upswing in the altcoin market, as investors allocate their capital from Bitcoin to more volatile altcoins.
However, there is still uncertainty surrounding this speculation, as rising fear levels in the market could drive traders back to Bitcoin as a safer store of value.
Bitcoin’s dominance currently stands at 53.90%, down 1.75% over the past week but still up 4.63% since the beginning of the year.
Source: COINTELEGRAPH
Analysts Suggest Bitcoin’s Dominance in Crypto Market Has Reached a Peak, Opening Opportunities for Altcoins
