The total crypto market cap recovered to above $2 trillion and many assets recouped their losses from the latest dip.
But the dip and the recovery that followed brought BTC dominance to 50%, a level unseen since 2018.
Our regular question to Hybrid Intelligence illustrates the view on BTC dominance:
“Bitcoin crypto market share settled at 50.34% at 12:00 PM UTC on Wednesday, April 28. Will Bitcoin's market share climb above 51.35% (+2%) earlier than drop below 49.33% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 69%
That is a rather uncertain indicator, certainly not bearish (i.e. dominance unlikely to drop lower) but also not strong enough to be considered bullish. It could be interpreted as that dominance will stay within this range between 49% and 51%.
Meanwhile another regular question sheds light on the overall trend:
“The cryptocurrency Market Capitalization settled at 2039B USD at 12:00 PM UTC on Wednesday, April 28. Will the Market cap climb above 2191.9B USD (+7.5%) earlier than drop below 1886.1B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 88%
That’s a bullish sign. The overall market cap is set to increase and given relatively low BTC dominance, it will be driven by other crypto assets. So the altseason continues.
But the dip and the recovery that followed brought BTC dominance to 50%, a level unseen since 2018.
Our regular question to Hybrid Intelligence illustrates the view on BTC dominance:
“Bitcoin crypto market share settled at 50.34% at 12:00 PM UTC on Wednesday, April 28. Will Bitcoin's market share climb above 51.35% (+2%) earlier than drop below 49.33% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 69%
That is a rather uncertain indicator, certainly not bearish (i.e. dominance unlikely to drop lower) but also not strong enough to be considered bullish. It could be interpreted as that dominance will stay within this range between 49% and 51%.
Meanwhile another regular question sheds light on the overall trend:
“The cryptocurrency Market Capitalization settled at 2039B USD at 12:00 PM UTC on Wednesday, April 28. Will the Market cap climb above 2191.9B USD (+7.5%) earlier than drop below 1886.1B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 88%
That’s a bullish sign. The overall market cap is set to increase and given relatively low BTC dominance, it will be driven by other crypto assets. So the altseason continues.