The market share of Bitcoin remains high, which historically has led to a general rise in altcoins
According to data from TradingView, as reported by Odaily Planet Daily, Bitcoin's market dominance (BTC.D) has hovered above 60% since February 2nd and is currently at 61.25%, with the overall market performance being sluggish. Analyst ai_9684xtpa reviewed historical trends and pointed out that after Bitcoin's market dominance reached 60% in November last year, altcoins experienced a mini bull run. In both 2019 and 2021, Bitcoin's market share had climbed to around 70%, followed by a general uptrend in the market.
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