Bitcoin ( BTC) When altcoins, which do not perform as expected despite exceeding $29,000, can they start moving?
BTC, which last priced at $ 29,000 on May 8, ETF reached these levels again with the support of their applications. But the increase in price, BTC with its dominance acted proportionally. reaching 51 percent BTC Its dominance has depressed altcoins, reaching the highest value in the last two years. Will the crypto investor flocking to BTC because of the SEC’s securitization of some altcoins and companies selling altcoins, be able to return to the field?
Money Shift to Altcoins: Relaxing Bitcoin (BTC) Dominance
Reaching $29,000 from $24,800, BTC increased 18 percent in just 6 days. But many investor bases are debating why this increase has so little impact on altcoins. When we examine the BTC Dominance for this, we see that it is based on the 51 percent level. So 51 percent of the money in the crypto market is held in BTC.
Although BTC has increased, the desired rises are not observed in altcoins due to the fact that this situation is correctly proportional to dominance. In order to have money transfers to altcoins and to attract outside investors, the decrease of BTC Dominance to 50.55 – 50.05 – 49.60 and 48.99 levels, respectively, can be followed.
