The continuous rise in Bitcoin dominance (BTC.D) has sparked speculations about the future of altcoins, but some analysts are skeptical about the onset of such a period. Currently, Bitcoin dominance has reached 64.5%, showing an 11% increase from the beginning of the year, hitting its highest level in the past four years. Despite predictions by some analysts of a decrease in Bitcoin dominance and growth in altcoins, experts like Scott Melker believe this cycle is different from past ones. He states that investors are not selling their Bitcoin to buy altcoins. According to him, the new capital entering the market from institutions, retail investors, and even governments is only flowing towards Bitcoin, not altcoins. Melker sees this phenomenon as ‘capitulation’ in the altcoin market, where altcoin holders are forced to sell their assets due to financial pressure, not due to a specific strategy. Meanwhile, the decrease in the U.S. Dollar Index (DXY) has also supported Bitcoin’s growth. Yesterday, Bitcoin crossed $87,000, entering a new uptrend phase, and at the time of writing, it is trading at $88,497. Gold prices also reached a historical high of $3,456 today. This trend positions Bitcoin, like gold, as a secure asset against inflation. On the real-time digital currency price page, you can monitor the prices of all tokens and cryptocurrencies live and instantly.
