Bitcoin Dominance Hits Highest Level In 2 Years

According to the latest reports, it seems that the dominance of Bitcoin has just reached the highest level in 2 years. Check out the following reports below.

According to the latest reports, it seems that Bitcoin dominance has reached a level that has not been seen in almost two years.

It is important t note that this is suggesting that traders and investors are flocking to the relative safety of the world’s first and largest cryptocurrency over other smaller tokens.

“Bitcoin dominance, or a percentage of the total cryptocurrency market capitalization that Bitcoin represents, has reached 45.84%, according to The Block’s Data Dashboard. The last time such a level was seen was in July 2021, when it peaked at 46.77%” The Block notes.

It has been also revealed the fact that In April of this year, Bitcoin dominance touched 45.65% but had been swinging in a range.

Since last week, however, its dominance has been on the rise.

It has been also revealed the fact that “It comes at a time when the United States Securities and Exchange Commission has declared several tokens as unregistered securities in its lawsuits against crypto exchanges Binance and Coinbase — claiming that most tokens are securities. Since then, the prices of many mentioned tokens have declined. Meanwhile, bitcoin’s price has been relatively stable.”

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $25,075.

It has been just revealed the fact that a popular crypto analyst says one bullish sign for Bitcoin (BTC) is the king crypto’s soaring illiquid supply in the face of regulatory headwinds.

In a new video update, InvestAnswers made sure to explain the fact that Bitcoin’s illiquid supply has hit an all-time high at 72%, which he considers a sign of confidence in BTC’s market.