We are experiencing a good start to the week, BITCOIN is up 18% since and that is incredible since it confirms that not only fake news can move the price like what happened a few days with the "false" approval of the BITCOIN ETFs.
What is certain is that the dominance of BITCOIN continues to rise, and this may be for two main reasons, the entry of fresh FIAT money into the ecosystem on the one hand, and on the other, the squeezing of other altcoins.
Yes, if we look at the dominance of BITCOIN the increase is considerable, it has risen exactly 4.54%:
And if we look at the percentage the Total Market Cap has risen, we see that it has risen around 13% in the same period.
As you can see, a 13% rise in the Total Market Cap does not justify the 18% rise in BITCOIN, so "someone" is suffering too, and that is that TETHER Dominance has dropped -11.55%.
This means that FRESH money is entering the market but still not much, the altcoins are suffering, especially the small ones, but not so much the big ones...
In summary, people are using their Stable Coin to mostly buy BITCOIN and there is an influx of FIAT money into the ecosystem as well, which indicates that the "foreign" market is beginning to see BITCOIN as an alternative for their savings.
However, we still have to be cautious, I would like to see a stabilization of TETHER's dominance and a prolonged increase in the Total Market Cap to confirm what we are all longing for, the expected Christmas BULL RUN.
Posted Using InLeo Alpha
