As the Market Bleeds, Bitcoin Dominance Hits Seven-Month High - Aliens: AI Crypto News & Markets Updates
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As the Market Bleeds, Bitcoin Dominance Hits Seven-Month High

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Crypto Briefing

Thu, May 19, 2022

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Bitcoin's market cap dominance is holding above 45% for the first time since October 2021.

Bitcoin has historically dominated the market during bear cycles.

Bitcoin has historically dominated the cryptocurrency market during downturns.

Although the crypto market looks weak, Bitcoin is proving that it’s still “the King.” The number one cryptocurrency has seen its market cap dominance soar this week, rising to 45.27% Thursday.

Bitcoin’s dominance over the market last topped 45% in October 2021, weeks before it hit an all-time high above $69,000.

Bitcoin has historically been dominant during bear cycles, but it tends to make way for other assets such as Ethereum in bullish market conditions.

Although Bitcoin has had a rough spell over recent months, true to bear market form, many other lower cap assets have fared much worse, which explains why its dominance is soaring.

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