• Bitcoin (BTC) is now trading at $120,861.50 with a bullish momentum.
• BTC regained its dominance, nearing 50% reclaiming its first position.
• While some Analysts expect BTC to dominate the rally, the TradingView charts show an early bullish momentum.

Bitcoin(BTC) has once again become the major topic in the crypto world. BTC regained its dominance even facing major price drops in the past rallies. We can see a clear shift in the market sentiment analysis. Investors are returning to BTC while the altcoins are still struggling with their price drops. BTC dominance has currently reached its highest level in six weeks. At press time decline of 2.53% over the past 24 hours.

What Is Bitcoin Dominance?

The term Bitcoin dominance refers to the percentage of measurement of market capitalization in the total crypto market cap. It’s often called Bitcoin dominance or BTCD. In simple words, this shows how much of the overall crypto market value belongs to Bitcoin.

BTC dominance is calculated as a percentage. It can be the value of BTC market cap divided by total market cap, then multiplied by 100 to get the percentage. When BTC dominates its market, the money is flowing to the king coin faster than into any other coins.

Also Read: Blackrock’s Big Move on ETH and BTC: What’s Driving the $1.29 Billion Buy?

Bitcoin Takes The Lead

According to the TradingView chart, Bitcoin’s market dominance has reached 49.93%, pointing to a large share of the total crypto market. The MACD indicators are showing a bullish trend, with the blue lines crossing the orange signal line. The visible green bars refer to BTC’s strength. RSI is near 60, showing a moderate upward momentum without being overbought.

BTC dominance is at 49.93, which means BTC is holding half of the total crypto market cap. It seems like altcoins are collectively making up the remaining share, but they are not leading the market, losing their ground as investors and traders move to BTC, mostly when uncertainty rises.

What Analysts Say?

The digital market has undergone interesting shifts nowadays. When Bitcoin continues to lead, the altcoins are struggling to recover from its recent sell-offs. Many of them have dropped lower than the September crash levels.

According to a recent update in X by the user named TedPillows, Bitcoin dominance has hit a 6-week high, showing its increasing influence in the market. The TradingView charts clearly show the uptrend in BTC dominance. The blue rectangular zone marks a key resistance area, reinforcing the idea of BTC reclaiming the market share.

Also Read: Bitcoin (BTC) Surges Through $125K Barrier: Will the Coin Soar to $150K This Year?

How The Market Reacts?

BTC’s current rise in the market is pointing to its return as the leading coin. Investors and traders are turning to the coin that seems to be favouring safer and established assets. If BTC dominance is continuing and going towards 60%, we might see further consolidation for altcoins.

In other words, if BTC loses its position, it may be a signal for the beginning of a new altcoin recovery season.

Conclusion

The current status of BTC refers to setting up a tone for its new journey. The growing shares and institutional interests add to its sustained strength. As the analysts expect BTC to dominate the rally.

The charts are showing early signs of a bullish rally. But it is not confirmed yet. Bitcoin’s dominance of nearly 50 % is a positive signal for the upcoming rally. In simple terms, it is the time to wait and watch the magic of the digital assets.