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

3 reasons why Bitcoin is regaining its crypto market dominance

Cryptocurrency May 27, 2022 12:00PM ET

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3 reasons why Bitcoin is regaining its crypto market dominance

Bitcoin (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

Ethereum Market Dominance daily chart. Source: TradingView

ETH/BTC 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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US 30	30,516.9	-258.5	-0.84%
US 500	3,750.0	-35.4	-0.93%
Dow Jones	30,775.43	-253.88	-0.82%
S&P 500	3,785.38	-33.45	-0.88%
Nasdaq	11,028.74	-149.16	-1.33%
S&P 500 VIX	28.71	+0.00	+0.00%
Dollar Index	104.683	+0.219	+0.21%

Crude Oil WTI	105.42	-0.34	-0.32%
Brent Oil	108.84	-0.19	-0.17%
Natural Gas	5.697	+0.189	+3.43%
Gold	1,802.15	-5.15	-0.28%
Silver	19.977	-0.375	-1.84%
Copper	3.6135	-0.0668	-1.82%
US Soybeans	1,551.00	-12.75	-0.82%

SPDR S&P 500	377.25	-3.09	-0.81%
iShares Russell 2000	169.36	-1.33	-0.78%
Invesco QQQ Trust	280.28	-3.52	-1.24%
Direxion Daily Junior Gold Miners Bull 2X Shares	33.46	-2.67	-7.39%
iShares Silver	18.64	-0.50	-2.61%
ProShares Ultra VIX Short-Term Futures	14.53	+0.16	+1.11%
ProShares UltraPro QQQ	24.00	-0.88	-3.54%

Apple	136.72	-2.51	-1.80%
Alphabet A	2,179.26	-54.77	-2.45%
Tesla	673.42	-12.05	-1.76%
Amazon.com	106.21	-2.71	-2.49%
Netflix	174.87	-3.49	-1.96%
Meta Platforms	161.25	-2.69	-1.64%
Bank of America	31.13	-0.73	-2.29%

3 reasons why Bitcoin is regaining its crypto market dominance

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