{"id":86061,"date":"2023-10-23T10:08:18","date_gmt":"2023-10-23T07:08:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86061"},"modified":"2025-09-13T03:10:24","modified_gmt":"2025-09-13T00:10:24","slug":"bitcoin-dominance-reaches-two-year-high","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-dominance-reaches-two-year-high\/","title":{"rendered":"Bitcoin dominance reaches two-year high"},"content":{"rendered":"

On October 21, the Bitcoin dominance index reached 52.76% \u2014 the highest reading since April 2021.<\/p>\n

\\\"BTC.D_2023-10-23_10-30-03\\\"
Bitcoin dominance index dynamics. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

Bitcoin\u2019s share has risen from around 38% at the start of the year to the current level. This is explained by the asset\u2019s ongoing rally, which has surged 81% since January.<\/p>\n

At the time of writing, digital gold is trading at $30,716, up 2.58% over 24 hours. The coin\u2019s market capitalization stands at $600.9 billion with a 24-hour trading volume of $16.7 billion.<\/p>\n

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

The Block Research analyst noted<\/a>, that the rise in dominance reflects how the cryptocurrency \u201chas held strong positions in the current market conditions and performed well for most of the week.\u201d<\/p>\n

\n

\u201cInflation problems, geopolitical risks and an increasingly partisan US government weigh on investors seeking to minimise risk. Meanwhile, Bitcoin appears close to approval of a spot ETF<\/a>, which, in a sense, serves as ideological protection against uncertainty on the world stage,\u201d the expert added.<\/p>\n<\/blockquote>\n

Earlier in September, SkyBridge Capital founder Anthony Scaramucci forecast bullish decade for the first cryptocurrency<\/a>. The investor suggested that the worst events of the current bear market are already behind us.<\/p>\n

According to CryptoQuant analysts, approval of a spot Bitcoin ETF could lift<\/a> the asset to $50,000\u2013$73,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

On October 21, the Bitcoin dominance index reached 52.76% \u2014 the highest reading since April 2021.<\/p>\n","protected":false},"author":1,"featured_media":86062,"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-86061","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":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86061","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=86061"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86061\/revisions"}],"predecessor-version":[{"id":86063,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86061\/revisions\/86063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/86062"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=86061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=86061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=86061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}