Bitcoin dominance continues its surge higher

2023-6-12 12:15

Quick Take The crypto market sold off over the weekend, but a few coins defied the sell-off, one being Bitcoin. Bitcoin held above $25,000, but the rest of the crypto market was severely impacted. Altcoins continued to lose value against Bitcoin in the past five days; Denominated against Bitcoin, Ethereum is 3% down, Doge is 8% down, Polkadot is 9% down, BNB is 10% down, Cardano is 11% down, and SOL is 16% down. As a result, the realized cap and market cap of Bitcoin continued to increase. Bitcoin realized cap is floating around 60%, approaching highs not seen since January 2021 and December 2017. Bitcoin’s dominance in the market cap is roughly 47%, nearing its year-to-date high. Alts/BTC: (Source: TV) Realized Cap: (Source: CoinMetrics) BTC dominance: (Source: Glassnode)

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bitcoin crypto market held above being one

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