Bitcoin Gobbles 65% of Crypto Market – Will Altcoins Bounce Back?
The Bitcoin dominance index has reached an important level of 65.09%, according to the latest chart from TradingView. Hence, the leading cryptocurrency has further asserted its dominance over the cryptocurrency market.
This metric is a key indicator that traders and investors use to measure the strength of BTC against altcoins. Over the past few months, Bitcoin dominance has been rising steadily.
The chart shows that this dominance rose from less than 48% to more than 65%. This rise suggests that more capital is flowing into Bitcoin than into altcoins.
