In September 2024, Bitcoin captured 57% of the total cryptocurrency capitalization. This is the highest value in the last 2.5 years, and it indicates that Bitcoin is in a strong position ahead of the upcoming halving, which will happen in 2024.đ What does this mean for the market?
When Bitcoin dominance grows, most funds are concentrated in the main cryptocurrency, which can temporarily slow down the development of altcoins. But it is also a sign of investor confidence in the stability of Bitcoin.đ Why is this important?
The current rise in dominance can be seen as a harbinger of major moves in the market, especially in the context of halvings, which traditionally lead to a decrease in supply and an increase in demand for BTC.$BTC
