Bitcoin’s share of the overall crypto market capitalization, known as the Bitcoin dominance, has reached a 2-year high at over 53%. According to data from TradingView, the Bitcoin (BTC) dominance has risen from 52% to over 53% over the past week, after having traded as high as 54% in October and 55% earlier in December. The Bitcoin dominance has increased consistently throughout 2023, and is now around levels not seen since April 2021, the data showed. Meanwhile, the TradingView chart also showed that the uptrend for the Bitcoin dominance, which has been in place since the beginning of the year, still remains intact, with the dominance having traded nicely above its 200-day moving average throughout the year.
Bitcoin Dominance Reaches 2-Year High, Altcoins Struggle to Keep Up
