BTC dominance is a crucial metric for understanding the overall health of the crypto market. As of April 11th, 2023, BTC dominance stands at 48.5%, a significant increase from its November 2022 low of 27.9%. Analysts have set a target of 60% for BTC dominance, and with its steady increase over the past few months, it's a real possibility.
Technical indicators are also showing a bullish signal, with the 20-EMA and 50-EMA above the current BTC price. The asset's volume is up by almost 30%, while the overall cryptocurrency market cap now stands at $1.21 trillion.
As BTC dominance continues to rise, altcoins could face devaluation. Keep an eye on BTC dominance to understand the current state of the crypto market.
Technical indicators are also showing a bullish signal, with the 20-EMA and 50-EMA above the current BTC price. The asset's volume is up by almost 30%, while the overall cryptocurrency market cap now stands at $1.21 trillion.
As BTC dominance continues to rise, altcoins could face devaluation. Keep an eye on BTC dominance to understand the current state of the crypto market.
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I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/
Discord Server: discord.gg/RVwBkpnQzm
I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.