Bitcoin’s dominance might set a new record, on this condition

If Bitcoin’s price remains between $34k – $35k, then its dominance can increase. In the meantime, BTC’s price increased by over 1.1% in the last 24 hours.has always dominated the crypto market. In fact, in recent times, BTC has had a market dominance of more than 52%, reflecting its sheer popularity.

However, if the latest data is to be considered, the number might rise further, especially if BTC continues to hover around a particular price band.If short declines are to be ignored, BTC’s dominance has grown dramatically over the last several years. Just to compare, while at its press time dominance stood at 52%,dominance could witness a further boost in the days to come if its price remains somewhere around the $34,000 and $35,000 mark.

However, its trading volume had dropped over the last day, which raised an alarm. Nonetheless, CryptoCon, another popular crypto analyst, pointed out a key metric, which suggested that BTC might be expecting another rally soon. I don't mean to get everybody riled up, but the Monthly Stochastic never gets this high unless something great is about to happen for’s monthly stochastic was near a level that has been historically followed by a price uptrend. For instance, similar situations happened back in 2013, 2017, and 2022.

Therefore, a better look at BTC’s network health was needed to see whether BTC could actually initiate another rally anytime soon., Bitcoin’s Miners’ Position Index and Binary CDD were both in the green. Thus, at press time, both miners and long-term holders were reluctant to sell their holdings.The derivatives market stats also looked pretty bullish. Notably, the king coin’s Open Interest increased along with its price. Whenever this happens, the possibility of trend continuation remains high.

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