The Bitcoin Strength (BTC) is the percentage of the total market capitalization of the cryptocurrency represented by Bitcoin standard, and it has reached a peak of nearly three months.
According to CoinMarketCap, BTC's dominant position is now 42.6% of the market, child in addition to high level since April 15th. Its rise occurred at the same time that the total value of the market was trending downward.
Since June 9, the market capitalization of cryptocurrency has fallen by about 25%, from about $ 340 billion to its current valuation of $ 256 billion, a loss of nearly $ 100 billion. Control of BTC has increased by 3% in the last two weeks and by around 4% since the beginning of the month.
Although the price of bitcoin has fallen from $ 7,603 to $ 6,600 over the same period, it is lower than the market in general, suggesting that investors are buying more from CTB than from Canada. other cryptocurrencies.
What does Bitcoin Dominance mean?
Bitcoin strength is used to measure the value of BTC, as a percentage of all cryptocurrency values. During extended market periods, it can also highlight whether the demand for Bitcoin remains above the market average.
When the market value began to increase; The mastery of BTC has decreased. Between February and June of last year, for example, the market share of Bitcoin decreased from 85% to 37%.
Although Bitcoin's value nearly tripled over the same period, other cryptocurrencies also caught the attention of investors: Ethereum's value went from 17% of the overall crypto market to 31%. %.
Bitcoin is the "gateway room" for many investors; they buy BTC before buying other parts. This may be partly due to its semi-universal list on all crypto-active exchanges, but also because of its visibility strength and its low volatility (which is a sort of relative statement).
Most people have heard of Bitcoin. The Google Trends standard collected data point out that, although internet searches on the platform have declined since January, "bitcoin" has been searched almost five times more often than "cryptocurrency" even in the last 90 days .
When crypto enters a downtrend, the mastery BTC often increases. Its relatively low volatility means that investors can maintain (some) value with their funds. During market downturns, this makes it a convenient asset for investors looking to keep their money in cryptocurrency, but wanting to minimize the scandalous.
And for those with stomachs, there is always Tether.
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