Bitcoin’s Crypto Market Dominance Rises to 50% and It Could Go Higher, Say Analysts

) has been running in place for the last month – its current price of $26,700 essentially flat from 30 days ago – but its market dominance has been on the rise as risks rise for the rest of the cryptocurrency sector.

The Bitcoin market dominance rate, which tracks the largest cryptocurrency's share of the total digital asset market, rose to 50.2% earlier on Monday, its strongest level in a month and near a 26-month high of 52% reached at the end of June. Taking a broader view, bitcoin’s market dominance was in a range between 39% and 49% for more than two years before it broke out to that 52% level in June after asset manager BlackRock’s filing for a spot BTC exchange-traded fund spurred hopes about unleashing massive inflows into the asset.

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