Bitcoin dominance index reaches levels last seen in summer 2021

Bitcoin’s share of the total cryptocurrency market capitalization rose above 45% — a level last reached in mid-2021.

At the start of January, the dominance index of digital gold stood at 38%. After that, the asset rose by 82%, crossing the $30,000 threshold.

The current rise in the indicator is notable for taking place against the backdrop of a broad market rally, not the other way around (as had often happened previously — for example, at the turn of 2020–2021).

At the time of writing, Ethereum’s dominance index stood at 17.9%, the stablecoin USDT at 6.32%, and BNB at 3.96%.

Total market capitalization is $1.28 trillion, according to CoinGecko.

In March, CNBC’s poll of major players projected Bitcoin to rise to $100,000.

The head of Equity Management Associates, Larry Lepard expressed confidence in Bitcoin reaching $10 million in the long term.