Bitcoin (BTC) hit a new all-time high (ATH) on Monday as it shot up 3.79% in anticipation of Donald Trump’s inauguration speech. Since then, BTC has dropped 4.54% and currently trades around $104,965. With the short-term outlook uncertain due to the recent choppy movement, let’s look at BTC dominance and what that means for the long-term outlook of Bitcoin price.
Bitcoin Price Today
Bitcoin price today trades at No data found for bitcoin on 43 minutes ago after dropping No data found for bitcoin on 43 minutes ago% in the past 24 hours. Despite this short-term pullback, BTC is up 3.54% this week and is still above the $100K psychological support level.
But the dominance of BTC is at a key level and hints that the next phase of the bull run will be lead to exponential rallies.
*bitcoin price updated as of No data found for bitcoin on 43 minutes ago
What is BTC Dominance?
Bitcoin dominance is the ratio of BTC and total crypto market capitalizations. Currently, this metric stands a
We współpracy z: https://coingape.com/markets/btc-dominance-hints-what-bitcoin-price-could-do-next/
