Bitcoin’s Market Share is Near a 2-year High

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According to TradingView data, the dominance index of BTC has reached 51.1%, a level approaching that of April 2021.

This is a significant increase as BTC.D had previously reached similar levels in June of this year, only to correct shortly after.

As reported by CoinGecko, at the time of writing, the price of Bitcoin is $27,100 and the coin has seen a 66% increase in value since the beginning of 2023.

The total market capitalization of Bitcoin currently stands at $528.8 billion, making it the biggest cryptocurrency in the market.

Bitcoin’s closest competitor, Ethereum, has only seen a 32% increase in value during the same period, with a current price of $1,554.

Despite being the second-largest cryptocurrency by market capitalization, it has underperformed in comparison to Bitcoin.

In the past week, Bitcoin has shown extremely low volatility and has been trading in a flat range.

This has resulted in most altcoins remaining in the red zone.