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3 reasons why Bitcoin is regaining its crypto market dominance

Cryptocurrency18 minutes ago (May 28, 2022 12:40PM ET)

3 reasons why Bitcoin is regaining its crypto market dominance 3 reasons why Bitcoin is regaining its crypto market dominance

(BTC) is regaining its lost crypto market dominance even as it trades nearly 60% below its record highs.

The Bitcoin Market Dominance (BTC.D) index, a metric that weighs BTC’s market capitalization against the rest of the cryptocurrency market, jumped to around 47% on May 27, its highest since October 2021.

Bitcoin Market Dominance daily chart. Source: TradingView
Market Dominance daily chart. Source: TradingView
daily price chart featuring key support level. Source: TradingView
LUNA/BTC daily price chart. Source: TradingView
Altcoin market cap daily chart. Source: TradingView
DeFi projects and their downside retracement from record highs. Source: Messari
Some dead crypto projects so far in 2022. Source: Messari
BTC.D daily price chart. Source: TradingView

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