Bitcoin dominance reached a new maximum of 59%

The dominance of Bitcoin (BTC) in the cryptocurrency market is growing confidently. After the collapse of the FTX trading platform in 2022, the indicator increased from 38% to 59%, which indicates a significant influx of capital in the main digital coin. An increase in dominance is accompanied by an impressive increase in market capitalization.

Since the beginning of the cycle, the total Bitcoin offer has grown 5.3 times – from $ 363 billion to $ 1.93 trillion. This exceeds the scores of altcoins, which increased by 4.7 times and reached $ 892 billion. Such data emphasize the higher attractiveness of BTC for investors against the background of market changes.

It is interesting that, despite the differences in the growth rate, Bitcoin and altcoins remain highly correlated. This indicates that the key factor was not dynamics, but stronger cash flows in Bitcoin. Investors consider it as a reliable asset in an unstable market.

According to Glassnode analysts, the rapid growth of Bitcoin dominance after the collapse of FTX has become a symbol of the stability of a digital coin. Many investors see in it a “safe harbor”, which confirms the trust in the main cryptocurrency as a long -term asset. At the same time, the demand for altcoins remains limited.

Researchers note that such dynamics affects not only BTC marketbut also to the decentralized finance sector (Defi). Confidence in cryptocurrencies is restored, but it is clearly concentrated around bitcoin. Other projects are faced with difficulties in attracting investments.

The current trend emphasizes that Bitcoin remains a dominant player in the market. Its role as the main cryptocurrency is only strengthened, which opens up new prospects for investors and developers in the long term.

Author

Peter Ivanov