BTCD hits 4-year high, but experts remain Chia on altcoin season

Bitcoin's market share has increased to 64%, reaching its highest level in over four years.

However, experts remain divided about its implications for the future. Some predict an upcoming altcoin season, while others warn that BTCD may continue to suppress altcoins.

What does the increasing Bitcoin dominance mean?

To understand better, BTCD refers to the percentage of the total cryptocurrency market capitalization that BTC holds. This is an important indicator of Bitcoin's market strength compared to other cryptocurrencies. An increase in dominance suggests Bitcoin is outperforming altcoins, while a decline may signal growing interest or investment in other digital assets.

This index has been steadily increasing since late 2022. According to the latest data, it has risen to 64%, marking its highest level since early 2021.

Bitcoin dominance performance. Source: TradingView

Notably, Benjamin Cowen, founder of Into The Cryptoverse, emphasized that this number is much higher when excluding stablecoins.

"Excluding stablecoins, Bitcoin's dominance is currently 69%," Cowen revealed.

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