Bitcoin’s Dominance Surpasses 50% as Altcoins Struggle

12:27 pm
October 10, 2023

Summary: Bitcoin’s market dominance has risen above 50% as altcoins, including Ether, underperform. The cryptocurrency market is currently bearish due to geopolitical uncertainties in the Middle East.

Bitcoin, the leading cryptocurrency by market cap, has experienced an increase in its market dominance. Currently, Bitcoin’s dominance stands at 50.3%, reaching a three-month high. Meanwhile, Ether’s market dominance has declined from 19% to around 17% in recent months, despite the implementation of the Ethereum Merge upgrade.

Altcoins have encountered significant selling pressure, while Bitcoin has managed to hold its support above $27k. If Bitcoin breaks through the resistance level at $28k, it could potentially rally above $30k. However, the current trend suggests that altcoins may continue to face selling pressure in the short term.


Why has Bitcoin’s market dominance increased?

Bitcoin’s market dominance has increased as altcoins, particularly Ether, have underperformed. While Ethereum transitioned into a proof-of-stake protocol, Ether’s market dominance declined.

What is the significance of Bitcoin’s dominance level exceeding 50%?

A dominance level above 50% indicates that Bitcoin holds the majority share of the entire cryptocurrency market. It signifies Bitcoin’s prominence and influence within the industry.

Why are altcoins struggling?

Altcoins are struggling due to substantial selling pressure. Investors may be shifting their focus to Bitcoin, which has shown relative stability compared to other cryptocurrencies.

Will Bitcoin’s dominance continue to rise?

It is difficult to predict the future of Bitcoin’s dominance. However, if Bitcoin maintains its upward momentum and outperforms altcoins, its dominance level may continue to rise.


Bitcoin’s market dominance has surpassed 50% as altcoins struggle to gain traction. With geopolitical uncertainties contributing to the overall bearish sentiment in the crypto market, it remains to be seen how Bitcoin and other cryptocurrencies will perform in the coming months.


More in this category ...

1:22 am December 2, 2023

Terraform Labs and SEC lawyers spar over whistleblower in court: Report

Featured image for “Terraform Labs and SEC lawyers spar over whistleblower in court: Report”
9:18 pm December 1, 2023

SEI, TIA, and Bittensor lead altcoins surge; Everlodge brings Airbnb opportunities to web3

8:08 pm December 1, 2023

Types of enterprise resource planning (ERP) systems

6:27 pm December 1, 2023

Searching for Extraterrestrial Life: The Quest for Alien Signals and Habitable Planets

2:06 pm December 1, 2023

Illuvium Teams Up with Team Liquid to Introduce Blockchain Game to the Masses

1:25 pm December 1, 2023

Shiba Inu Sees Massive $300 Billion Transfer

Featured image for “Shiba Inu Sees Massive $300 Billion Transfer”
10:57 am December 1, 2023

Demystifying Algorand Smart Contracts: A Comprehensive Guide for Beginners

8:27 am December 1, 2023

Rallying troops against cybercrime with QRadar SIEM

6:53 am December 1, 2023

On-chain debt securities platform Obligate launches on Base

3:22 am December 1, 2023

The Rise of NEO: Unveiling China’s Revolutionary Blockchain Platform

1:19 am December 1, 2023

Asia Express – Recent Developments in East Asian Crypto Markets

Featured image for “Asia Express – Recent Developments in East Asian Crypto Markets”
11:41 pm November 30, 2023

Injective surges after latest burn auction and OKX listing

8:48 pm November 30, 2023

6 climate change adaptation strategies every organization needs today

7:51 pm November 30, 2023

The Evolution of Dash: From XCoin to Digital Cash Pioneer

4:28 pm November 30, 2023

Alchemy Pay Brings New Crypto Payment Options to Europe and the UK

1:22 pm November 30, 2023

Anonymous Buyer Acquires Bitcoin (BTC) Worth $424M Amid ETF Speculations

Featured image for “Anonymous Buyer Acquires Bitcoin (BTC) Worth $424M Amid ETF Speculations”
12:20 pm November 30, 2023

Securing Your Monero: Best Practices for Wallets and Transactions

9:15 am November 30, 2023

New altcoin steals the show as Bonk surges on KuCoin listing and Dogecoin’s on-chain rises

Featured image for “New altcoin steals the show as Bonk surges on KuCoin listing and Dogecoin’s on-chain rises”
9:09 am November 30, 2023

How blockchain enables trust in water trading

4:49 am November 30, 2023

Zcash’s Shielded Pools: Enhancing Privacy with Shielded Transactions

2:01 am November 30, 2023

IOTA announces $100 million Ecosystem DLT Foundation in the UAE

1:19 am November 30, 2023

AI Eye – Cointelegraph Magazine

Featured image for “AI Eye – Cointelegraph Magazine”
9:26 pm November 29, 2023

Real-time artificial intelligence and event processing  

9:19 pm November 29, 2023

NEM vs Ethereum: Comparing Two Leading Smart Contract Platforms

6:44 pm November 29, 2023

SHIB burn rate soars, PEPE market cap nears $500M, as Memeinator token presale thrives

1:47 pm November 29, 2023

TRON vs. Ethereum: Analyzing the Differences and Similarities

1:22 pm November 29, 2023

SEC Delays Fail To Stop BTC As Price Clears $38,000

Featured image for “SEC Delays Fail To Stop BTC As Price Clears $38,000”
11:32 am November 29, 2023

dYdX trading and launch rewards live after governance vote

6:17 am November 29, 2023

VeChain’s Impact on Sustainable and Ethical Business Practices

4:16 am November 29, 2023

Chainlink opens v0.2 staking with 45 million LINK