Bitcoin ($BTC), the world’s leading digital currency, is showing promise as it has regained dominance in the cryptocurrency space. According to CoinMarketCap data, Bitcoin Dominance ($BTC.D) has hit 63.5% after its price skyrocketed by 3%.
Bitcoin reclaims market share as altcoins retreat
For clarity, $BTC.D refers to the percentage of the total crypto market capitalization that comprises Bitcoin. This recent rise signals that Bitcoin has rebounded and is dominating the crypto market's list of assets.
Notably, despite being a leading asset, Bitcoin has not reached the 60+% level since March 3, 2021, when it reached 60.3%. Interestingly, $BTC.D is ascending and could climb to between 66% and 70% before the end of the next quarter.
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