Insights

Bitcoin dominance continues its surge higher

Quick Take

  • The crypto market sold off over the weekend, but a few coins defied the sell-off, one being Bitcoin.
  • Bitcoin held above $25,000, but the rest of the crypto market was severely impacted.
  • Altcoins continued to lose value against Bitcoin in the past five days;
  • Denominated against Bitcoin, Ethereum is 3% down, Doge is 8% down, Polkadot is 9% down, BNB is 10% down, Cardano is 11% down, and SOL is 16% down.
  • As a result, the realized cap and market cap of Bitcoin continued to increase.
  • Bitcoin realized cap is floating around 60%, approaching highs not seen since January 2021 and December 2017.
  • Bitcoin’s dominance in the market cap is roughly 47%, nearing its year-to-date high.
Alts/BTC: (Source: TV)
Alts/BTC: (Source: TV)
Realized Cap: (Source: CoinMetrics)
Realized Cap: (Source: CoinMetrics)
BTC dominance: (Source: Glassnode)
BTC dominance: (Source: Glassnode)

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