- Bitcoin dominance is currently 46 percent, the highest since October last year.
- According to data from Tradingview, BTC dominance was below 40 percent until January.
- Dominance measures the volume of Bitcoin market cap within the overall market.
- The high bitcoin dominance reflects the downtrend of many altcoins.
- BTC market cap percentage rising higher indicates risk aversion behavior during market downturns.
- Investors are therefore more likely to place their investments in Bitcoin.
- Therefore, a high value is also a sign that Altcoin demand is falling.
