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3 reasons why Bitcoin is regaining its crypto market dominance -Breaking

by Mike Robinson

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Three reasons Bitcoin has regained its dominance in the crypto market

(BTCEven though it is trading at nearly 60% of its previous record highs, ), has been attempting to regain its crypto market dominance.

On May 27, the Bitcoin Market Dominance index (BTC.D), a measure that measures BTC’s market capitalization relative to the rest of cryptocurrency markets, rose to 47%, its highest level since October 2021.

Daily chart of Bitcoin Market Dominance Source: TradingView
Chart of market dominance every day. Source: TradingView
Key support levels are shown on the daily price chart Source: TradingView
Daily price chart for LUNA/BTC Source: TradingView
Daily chart of Altcoin market caps TradingView
The downside of DeFi projects, retracing from record highs. Source: Messari
Some dead crypto projects so far in 2022. Source: Messari
BTC.D Daily Price Chart Source: TradingView