Bitcoin dominance hits highest point in over two years

Quick Take

  • Bitcoin’s dominance in the cryptocurrency market has surged to over 49%, its highest level in more than two years, according to The Block’s data dashboard.
     

     

Bitcoin's dominance in the cryptocurrency market has increased to over 49%, marking its highest point in more than two years, according to The Block's data dashboard

Bitcoin's dominance has experienced a steady rise, moving from approximately 38% at the start of this year to reach 48.85% on October 21, marking the highest level observed since April 2021. This surge in dominance can be attributed to a year-long rally in bitcoin, with the cryptocurrency's price surging by 81% since the beginning of the year.

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