{"id":19222,"date":"2024-04-30T10:15:23","date_gmt":"2024-04-30T10:15:23","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=19222"},"modified":"2024-04-30T09:40:47","modified_gmt":"2024-04-30T09:40:47","slug":"bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/","title":{"rendered":"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss"},"content":{"rendered":"

Bitcoin<\/strong>, the leading cryptocurrency, is on the verge of ending a seven-month winning streak, experiencing its first monthly loss since August. However, analysts predict that Bitcoin’s dominance in the crypto market is set to strengthen, despite short-term fluctuations.<\/p>\n

At the time of writing, Bitcoin<\/a> is trading at $63,200, reflecting an 11% monthly decline, the first since August 2023. This downturn is attributed to various factors, including reduced demand for U.S.-based spot bitcoin exchange-traded funds (ETFs) and general risk aversion in financial markets. Nevertheless, Bitcoin’s dominance rate, which measures its share in the overall cryptocurrency market, has surged past a critical level, signaling potential upside.<\/p>\n

Several factors are contributing to Bitcoin<\/a>‘s resilience and potential dominance. The continued expansion of prominent stablecoins provides support, while analysts are closely monitoring the U.S. Treasury’s quarterly refunding statement, expected on May 1. Higher issuance of short-term U.S. bills could release liquidity, potentially benefiting risk assets like Bitcoin.<\/p>\n

The U.S. Treasury’s announcement of plans to borrow more in the April to June quarter suggests increased bond supply and higher yields, which could diminish the appeal of risky assets. However, Bitcoin’s dominance rate recently reached a three-year high of 57%, breaking out from a six-month consolidation pattern. This breakout indicates that Bitcoin may continue to outperform alternative cryptocurrencies (altcoins) in the coming months.<\/p>\n

Fairlead Strategies noted that Bitcoin’s dominance breakout favors it over altcoins in the intermediate term, aligning with the weekly relative rotation graph (RRG), where most altcoins are trending lower. This shift marks a continuation of a long-term trend, reversing much of the gains that altcoins experienced in early 2021.<\/p>\n

Despite the potential for Bitcoin to experience its first monthly loss in nearly eight months, its increasing dominance in the cryptocurrency market suggests that it remains a focal point for investors, positioning it for continued strength in the future.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin, the leading cryptocurrency, is on the verge of ending a seven-month winning streak, experiencing its first monthly loss since August. However, analysts predict that Bitcoin’s dominance in the crypto market is set to strengthen, despite short-term fluctuations. At the time of writing, Bitcoin is trading at $63,200, reflecting an 11% monthly decline, the first<\/p>\n","protected":false},"author":6,"featured_media":15610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[61,1766,5754,60],"class_list":["post-19222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-bitcoin","tag-bitcoin-btc","tag-bitcoin-downtrend","tag-btc"],"yoast_head":"\nBitcoin Poised for Increased Dominance Despite Potential Monthly Loss - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin suffers monthly loss after 7 consecutive winning month. Here are the more details about downtrend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bitcoin suffers monthly loss after 7 consecutive winning month. Here are the more details about downtrend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-30T10:15:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-30T09:40:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"952\" \/>\n\t<meta property=\"og:image:height\" content=\"536\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/\",\"name\":\"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp\",\"datePublished\":\"2024-04-30T10:15:23+00:00\",\"dateModified\":\"2024-04-30T09:40:47+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"Bitcoin suffers monthly loss after 7 consecutive winning month. Here are the more details about downtrend.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp\",\"width\":952,\"height\":536,\"caption\":\"Bitcoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss - Coin Engineer","description":"Bitcoin suffers monthly loss after 7 consecutive winning month. Here are the more details about downtrend.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss - Coin Engineer","og_description":"Bitcoin suffers monthly loss after 7 consecutive winning month. Here are the more details about downtrend.","og_url":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/","og_site_name":"Coin Engineer","article_published_time":"2024-04-30T10:15:23+00:00","article_modified_time":"2024-04-30T09:40:47+00:00","og_image":[{"width":952,"height":536,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp","type":"image\/webp"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/","url":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/","name":"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp","datePublished":"2024-04-30T10:15:23+00:00","dateModified":"2024-04-30T09:40:47+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"description":"Bitcoin suffers monthly loss after 7 consecutive winning month. Here are the more details about downtrend.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-BTC.webp","width":952,"height":536,"caption":"Bitcoin"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/bitcoin-poised-for-increased-dominance-despite-potential-monthly-loss\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Poised for Increased Dominance Despite Potential Monthly Loss"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/19222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=19222"}],"version-history":[{"count":1,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/19222\/revisions"}],"predecessor-version":[{"id":19226,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/19222\/revisions\/19226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/15610"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=19222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=19222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=19222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}