prices have been fluctuating, moving in and out of the red zone, highlighting the lackluster trend it has been experiencing.
Despite these fluctuations, Bitcoin dominance has managed to stay above 50%, albeit with marginal changes.indicated that towards the end of the previous year, BTC dominance dropped below 50%, signaling a decrease in BTC’s market cap. However, at the onset of 2024, the market cap regained the 50% threshold and continued to rise. As of the last recorded data on 11th May, BTC dominance stood at over 53%.However, within the last 24 hours, BTC dominance has increased by approximately 0.4%, bringing it back to over 51% at this time.Bitcoin market cap maintains a $1 trillion thresholdRecent data indicated a reduction in market cap over the past few weeks, with a decrease of over 2% in the last 24 hours.
Also, following a period in 2022 where the market capitalization fell below the $2 trillion mark, it re-entered this range around March and has since remained there, albeit with fluctuations.This ensured that its market capitalization remained above the $1 trillion mark for an extended period, allowing Bitcoin dominance to remain above 50%.daily timeframe price trend indicated that it has surged above the $62,000 price zone.