Cryptocurrency market data platforms such as CoinMarketCap or CoinGecko

Bitcoin Market Dominance Surges Past 60% as Price Breaks $73,000

Oct 29, 2024, 07:42 PM

Bitcoin's market dominance has surged past 60% for the first time in over three years, marking a significant milestone for the leading cryptocurrency. The dominance metric, which measures Bitcoin's share of the total cryptocurrency market capitalization, indicates a strong market preference for Bitcoin over other digital assets. This surge coincides with Bitcoin's price breaking $73,000 and nearing its all-time high, reflecting increased investor confidence and bullish sentiment in the market. Analysts and traders are closely monitoring this breakout, with some predicting that Bitcoin could soon reach $100,000. Additionally, Bitcoin's dominance has reached a new cycle high.