{"id":31055,"date":"2024-10-16T13:30:18","date_gmt":"2024-10-16T10:30:18","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=31055"},"modified":"2024-10-16T12:48:00","modified_gmt":"2024-10-16T09:48:00","slug":"bitcoin-dominance-is-at-a-3-year-high-what-about-altcoin-prices","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-dominance-is-at-a-3-year-high-what-about-altcoin-prices\/","title":{"rendered":"Bitcoin Dominance is at a 3-Year High: What About Altcoin Prices?"},"content":{"rendered":"

As the leading cryptocurrency Bitcoin<\/strong> rallies towards the ATH level, its market dominance (Bitcoin Dominance)<\/strong> has reached 58.77%, the highest level since April 2021. Some traders believe that Bitcoin dominance has peaked.<\/p>\n

Why is Bitcoin’s Dominance Increasing?<\/h3>\n

Recently, Bitcoin’s price has climbed as high as $67,800, an important resistance point. However, Bitcoin, which fell to $64,880 in the short term, is exhibiting a persistent trend above $67,000. The current Bitcoin price is at $67,044 at the time of writing. BTC market capitalization has reached a huge figure of 1.32 trillion dollars.<\/p>\n

In this process, Bitcoin’s dominance in the market causes altcoins to be generally stagnant or bearish. Bitcoin gained 2.5%, while many altcoins were flat or down. However, some analysts predict that Bitcoin’s dominance is temporary and that altcoins will soon revive.<\/p>\n

\n

Latest Bitcoin and Cryptocurrency Market Update \u2013 October 16<\/a><\/strong><\/p>\n<\/blockquote>\n

\"Bitcoin\"<\/p>\n

\n

Benjamin Cowen, one of the leading crypto analysts, predicts that Bitcoin dominance will reach 60%, while analysts like Moataz Elsayed state that altcoin season is upon us. Historically, when Bitcoin’s market dominance has declined, altcoins have generally been on an uptrend.<\/p>\n

ETH usually appreciates when Bitcoin dominance increases, but this week the ETH\/BTC ratio fell below 0.039. This marks its lowest level since April 2021.<\/p>\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\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As the leading cryptocurrency Bitcoin rallies towards the ATH level, its market dominance (Bitcoin Dominance) has reached 58.77%, the highest level since April 2021. Some traders believe that Bitcoin dominance has peaked. Why is Bitcoin’s Dominance Increasing? Recently, Bitcoin’s price has climbed as high as $67,800, an important resistance point. However, Bitcoin, which fell to<\/p>\n","protected":false},"author":6,"featured_media":31057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,7,2],"tags":[61,477,4624],"class_list":["post-31055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-market-analysis","category-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-dominance"],"yoast_head":"\nBitcoin Dominance is at a 3-Year High: What About Altcoin Prices? - Coin Engineer<\/title>\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-dominance-is-at-a-3-year-high-what-about-altcoin-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Dominance is at a 3-Year High: What About Altcoin Prices? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"As the leading cryptocurrency Bitcoin rallies towards the ATH level, its market dominance (Bitcoin Dominance) has reached 58.77%, the highest level since April 2021. 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