The Rise of BTC Dominance: A Key Indicator for Crypto Market!

BTC dominance is a crucial metric for understanding the overall health of the crypto market. As of April 11th, 2023, BTC dominance stands at 48.5%, a significant increase from its November 2022 low of 27.9%. Analysts have set a target of 60% for BTC dominance, and with its steady increase over the past few months, it's a real possibility.


Technical indicators are also showing a bullish signal, with the 20-EMA and 50-EMA above the current BTC price. The asset's volume is up by almost 30%, while the overall cryptocurrency market cap now stands at $1.21 trillion.


As BTC dominance continues to rise, altcoins could face devaluation. Keep an eye on BTC dominance to understand the current state of the crypto market.