{"id":85570,"date":"2023-10-11T10:09:44","date_gmt":"2023-10-11T07:09:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85570"},"modified":"2025-09-13T00:07:06","modified_gmt":"2025-09-12T21:07:06","slug":"bitcoins-market-dominance-nears-a-two-year-high","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoins-market-dominance-nears-a-two-year-high\/","title":{"rendered":"Bitcoin’s market dominance nears a two-year high"},"content":{"rendered":"

The dominance index of the leading cryptocurrency reached 51.1%, approaching the levels seen in April 2021. Data from TradingView<\/a>.<\/p>\n

\"Bitcoin
Bitcoin dominance index trend. Data: TradingView.<\/figcaption><\/figure>\n

BTC.D reached comparable levels in June this year, but quickly corrected.<\/p>\n

According to CoinGecko<\/a>, at the time of writing digital gold is trading at $27,100 \u2014 up 66% for 2023. The coin’s total market capitalization stands at $528.8 billion.<\/p>\n

\"Bitcoin
15-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

The nearest competitor by market capitalization\u2014Ethereum\u2014over the same period rose by only 32%. The asset trades at $1,554.<\/p>\n

\"Bitcoin
15-minute ETH\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

Bitcoin has traded in a flat range over the past week, displaying extremely low volatility. Most altcoins remain in the red.<\/p>\n

Andr\u00e9 Dragosh, head of research at Deutsche Digital Assets, told The Block that Ethereum’s lag is due to the ‘tepid reception’ of recently launched ETF<\/a> based on the second-largest cryptocurrency.<\/p>\n

\n

“Collectively, Ethereum ETPs attracted only a modest net inflow of $900,000 last week, despite the debut of new ETFs. For comparison, inflows into Bitcoin ETPs amounted to $85.4 million,” Dragosh added.<\/p>\n<\/blockquote>\n

Earlier, CryptoQuant analyst under the nickname Maartunn stated<\/a>, that the Bitcoin price is expected to rise meaningfully if it holds above $27,900. The level aligns with the MVRV<\/a> indicator for short-term market participants.<\/p>\n

In September, SkyBridge Capital founder Anthony Scaramucci forecast a bullish decade for the first cryptocurrency. The investor suggested that the worst events of the current bear market were behind us.<\/p>\n","protected":false},"excerpt":{"rendered":"

The dominance index of the leading cryptocurrency reached 51.1%, approaching April 2021 levels.<\/p>\n","protected":false},"author":1,"featured_media":85571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1145],"class_list":["post-85570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85570"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85570\/revisions"}],"predecessor-version":[{"id":85572,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85570\/revisions\/85572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85571"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}