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

by Mike Robinson

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There are 3 reasons Bitcoin is returning to its position as the dominant crypto market.

(BTCEven though it is trading at nearly 60% of its previous record highs, ), has been regaining 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
Daily price chart with key support levels Source: TradingView
Chart of daily LUNA/BTC prices. Source: TradingView
Chart of Altcoin’s market capitalization daily. TradingView
Projects of the DeFi and their downside recovery from record highs. Source: Messari
Some dead crypto projects so far in 2022. Source: Messari
BTC.D Daily Price Chart Source: TradingView