Bitcoin

<h2 id="header-0">Surge Attributed To Recent BTC Price Spike</h2>Bitcoin has achieved an all-time high in its market <a href="https://twitter.com/Flowslikeosmo/status/1714355653211537409?t&#61;5gJuEt2eq_sqmZos2KSBGw&amp;s&#61;19" rel="noopener noreferrer nofollow">dominance</a> compared to other cryptocurrencies. Its share of the total crypto market cap recently surpassed 49% after a notable BTC price rally.According to CoinMarketCap <a href="https://coinmarketcap.com/charts/" rel="noopener noreferrer nofollow">data</a>, Bitcoin’s current dominance has been trending at elevated levels for some time before reaching this new peak. This underscores its strength relative to altcoins.At the time of writing, BTC dominance stood at over 49%, approaching the 50% threshold. This gives Bitcoin command of nearly half the entire crypto market.The surge in dominance coincided with a sharp 5% Bitcoin price spike on October 16th. However, BTC has declined steadily since then, now trading around $28,400.When Bitcoin’s price initially jumped, trading volumes were also elevated. But volume has now dropped over 40% from that period as dominance remains high. Market capitalization has also slid slightly from the peak.<h2 id="header-1">What’s Next For Bitcoin Dominance?</h2>The Relative Strength Index (RSI) indicator for Bitcoin recently exceeded 60, signaling strong bullish momentum. However, the current RSI position hints that a price drop could be ahead.If <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin’s</a> value declines from here, its market cap is expected to follow suit. This would likely cause its dominance over other cryptos to decrease from its current all-time high.___________________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of Crypto News.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/bitcoin-dominance-hits-all-time-high-near-50/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on October 19, 2023.

Bitcoin Dominance Hits All-Time High Near 50%

Table of Contents

Cryptos Newss

Other articles published on Oct 19, 2023

Anoma Foundation Contributes 10 M NAM Towards Namada Community Builders Program

Oasys (OAS) Price Prediction 2024, 2025, 2030, 2040, and 2050

DONASWAP Expands Ecosystem with Moonriver Integration

XRP’s Potential Surge: Wall Street Analyst Weighs In

🌟 Metaverse Magic Unleashed: VulcanVerse x GensoKishi Collaboration 🌟

Aptos Faces 5-Hour Outage on Blockchain’s First Birthday

Join our free newsletter for daily crypto updates!