BlockBeats News, May 6th, according to TradingView data, today Bitcoin's market dominance (BTC.D) rose to 64.86%, briefly surpassing 65%, hitting a new high since February 2021.
Bitcoin's high market dominance indicates the quietness of the altcoin market, but it also suggests that a market rebound is imminent. According to historical data, when Bitcoin's market dominance surged above 60% in November last year, altcoins started a small altseason. In both 2019 and 2021, when Bitcoin's market dominance reached above 70%, it was followed by a general uptrend.
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