The market dominance of #Bitcoin shot up above 61% as BTC led the flows in the crypto market. Other data also showed that the volume share of altcoins listed on Binance reached 49% in March. This metric has increased from 58.44% in early April, indicating that the bullish trend continues to favor BTC over the crypto market overall.
According to CryptoQuant, the altcoin market improved after months of underperformance compared to BTC. The average altcoin is now trading 23.47% below its 200-day simple moving average, up from 44.4% at the start of the cycle. Similar readings appeared earlier near the end of late-stage phases in bearish markets in 2022.
According to CryptoQuant, the altcoin market improved after months of underperformance compared to BTC. The average altcoin is now trading 23.47% below its 200-day simple moving average, up from 44.4% at the start of the cycle. Similar readings appeared earlier near the end of late-stage phases in bearish markets in 2022.