Bitcoin’s dominance in the cryptocurrency market has surged to 62%, nearing a year-to-date high. This increase highlights a growing divergence between bitcoin and the broader crypto market. The ether-to-bitcoin ratio has turned negative on a four-year compound annual basis, indicating that ether is underperforming compared to bitcoin. Currently, bitcoin holds steady above $80,000. In other news, Canada, the sixth-largest holder of U.S. Treasuries with $379 billion as of the end of 2024, may sell U.S. dollar bonds under the leadership of newly appointed Prime Minister Mark Carney. This potential sale could influence Treasury yields, especially significant as $9 trillion in U.S. debt is due for maturity or refinancing this year. Additionally, market watchers are focused on the upcoming Consumer Price Index report, with the S&P 500 down nearly 10% and hovering around correction territory. A hotter-than-expected inflation report could further impact risk assets.
@CryptoELlTES
@CryptooELITES
·
21h Bitcoin Dominance: 61.96%
Is this the top, or are we heading towards 73%?
We’re at the 2021 & 2018 resistance levels—I expect a drop from here!
What’s your take? or ?
$BTC #Bitcoin #Altcoins #Crypto
Cryptoville
@Cryptov1lle
·
1h Bitcoin Dominance Hits New Cycle High
BTC dominance has surged past 61%! Driven by a strong U.S. jobs report & the Fed’s hawkish stance, investors are shifting from alts to BTC amid tighter liquidity. Will this trend continue? #Bitcoin #Crypto #BTC #Fed #Markets
MartyParty
@martypartymusic
·
15h #Bitcoin Dominance 62% – look at the history, last time we were here was the April 2021 Altcoin Season which we have slowly erased.
Will
@WClementeIII
·
Jun 3, 2022 Bitcoin dominance is now up over 19% from its lows, highlighting an intra-crypto market liquidity flow back to BTC after aggressive dispersion throughout 2021.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
