Bitcoin dominance nears 50% as research hails 'bullish' narrative flip
The comedown of the past nine months has disappeared during this week's bank crisis-inspired Bitcoin price surge. Bitcoin (BTC) accounts for more of the total value of cryptocurrency than at any time since June 2022. The latest data from TradingView shows that Bitcoin market cap dominance is nearing 46% — its highest in nine months. New dominance "spike" hints at trend change to come The latest knock-on effect from this week’s surge above $26,000, Bitcoin’s share of the combined cryptocurrency market cap is currently at 45.7%. Up almost 3% since the weekend alone, Bitcoin dominance shows a trend-setting move by the largest cryptoasset reminiscent of classic bull cycles. “Every Bitcoin bull market has commenced with a spike in BTC dominance (as has every bear market),” markets commentator Tedtalksmacro noted on March 15. An accompanying chart showed that such dominance “spikes” tend to precede significant trend shifts in BTC price action. “Bull Market or Echo Bubble?” Te...