Bitcoin News Thebittimes.Com

BTC market dominance hovered around 80% during the 2017 bull market, but slumped to the 50-60% range during the 2021 bull market, at times even dipping below 50%. Bitcoin's (BTC) market dominance has reached 54%, its highest in the last 30 months, indicating the top cryptocurrency’s growing strength just before the halving event scheduled for April 2024. Bitcoin halving is an event in which the mining reward per block is halved, thus cutting the supply of the asset amid growing demand, leading to bullish price momentum. Bitcoin halving occurs every four years and the next halving in 2024 will reduce the BTC mining reward from the current 6.25 BTC to 3.125 BTC. As the total supply of Bitcoin is fixed at 21 million, the halving of BTC mining reward creates a supply-demand gap that lowers the influx of new BTC in the market. Related: 5,050 Bitcoin for $5 in 2009: Helsinki’s claim to crypto fame Bitcoin market dominance is a measure of the crypto asset's market capitalizat...

Blackrock’s spot ETF filing and the Securities and Exchange Commission's crackdown on crypto are driving investors toward Bitcoin. Bitcoin (BTC) dominance , the measure of how much Bitcoin makes up of the total crypto market cap, has b reach ed the 50% mark. On June 19 at 6 pm UTC, Bitcoin dominance hit just above 50% and has since settled to 49.9% at the time of publication, according to data from TradingView. This means that Bitcoin alone accounts for half of crypto’s total $1.1 trillion dollar market capitalization. Bitcoin’s current market capitalization stands at $519 billion, according to data from Coingecko. Notably, Bitcoin’s market dominance has surged by more than 10.5% since Nov. 27, 2022, an increase driven in large part by investors looking to the flagship crypto asset as a safe haven in the wake of the FTX crisis and amid mounting regulatory scrutiny of crypto assets in the United States. Bitcoin market dominance over the last 4 days. Source: TradingView. While Bi...