Usa Beyond UPS BTC Lowe's Bitcoin Usa Beyond

Bitcoin Takes the Lead, Dominance Surges as BTC Outperforms Altcoins

Reading now: 536

A growing narrative amongst crypto and traditional asset class investors that Bitcoin might actually be a viable safe haven against potential turmoil in the traditional fiat-based fractional reserve banking system has helped propel the BTC to fresh multi-month highs versus its major altcoin peers this week.According to TradingView, Bitcoin dominance (i.e.

the percentage of the cryptocurrency market’s total capitalization taken up by Bitcoin) hit its highest level in nine months above 45.5% on Wednesday.

That comes after the BTC/ETH exchange rate hit its highest level since November around 15 earlier this week.BTC/BNB, meanwhile, is near its highest since last August around 80, BTC/XRP is at its best levels since last September above 62,200, while BTC/ADA is at its lowest level since early 2021.’s Altcoin Season Index has thus slumped firmly back into “Bitcoin Season” (defined as scores below 25, with the current score 22), down from late February highs in the 47 area.Bitcoin’s leap in dominance comes after the cryptocurrency hit its highest levels since last June in the mid-$26,000s earlier this week, a stunning recovery from last week’s dip to new two-month lows under the $20,000 level.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News