A crypto analyst has shed light on the latest trends regarding the Bitcoin (BTC) dominance within the crypto market, suggesting a potential shift in investor sentiment as they diversify their portfolios beyond the pioneer cryptocurrency.
Bitcoin Dominance Is Waning
Popular crypto analyst and trader, Michael van de Poppe took to X (formerly Twitter), on Monday, April 22, to share valuable insights on Bitcoin’s dominance and investors’ sentiment on the cryptocurrency following the halving event.
The halving event occurred in the early hours of April 20, cutting the block rewards of miners by 50% and reducing the cryptocurrency’s supply. This previously anticipated event had triggered excitement amongst crypto enthusiasts and investors, as market analysts predicted a bull run following the event.
However, the conclusion of the fourth Bitcoin halving cycle failed to produce any profound effect on BTC’s price, particularly when compared to its massive rise to new
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