#$BTC

🔥🚀Bitcoin Dominance Hits Four-Year High As BTC Price Tops $97,000💵 🎉

Bitcoin’s dominance of the cryptocurrency market reached 64.89% today, its highest level since January 2021, as the price of Bitcoin topped $97,000 Friday morning.

BTC’s dominance—its capitalization as a percentage of the entire market’s cap—has risen from around 57.90% at the start of the year, according to TradingView data.

Bitcoin’s Friday surge to $97,000 puts it just 10.9% below its all-time high of $108,786 set in January, whereas the likes of Ethereum, Solana and Dogecoin are down 54%, 43% and 61% respectively on highs set in either December or January, per data from CoinGecko.

👉Bitcoin’s first-mover advantage

For David Morrison, a Senior Market Analyst at Trade Nation, Bitcoin has outperformed most alts during the past few months for various reasons, including its first-mover advantage.

👉Investor flight boosts Bitcoin

Bitcoin’s position has also been helped by investor flight from U.S. treasuries and other U.S.-based assets, with Bitcoin ETF flows outstripping flows for gold ETFs by $4 billion this week.