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<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s dominance is on the rise, potentially surpassing 60% despite a negative Funding Rate.</li>
 <li>Major buyers are increasing their Bitcoin holdings, indicating a strong belief in its future potential.</li>
</ul>
<p>Bitcoin’s dominance in the cryptocurrency market is growing steadily, with a potential to exceed 60% in the near future.</p>
<p>This surge in dominance has been observed despite the negative Funding Rate currently experienced by Bitcoin.</p>
<h2 id="understanding-the-negative-btc-funding-rate">Understanding the Negative BTC Funding Rate</h2>
<p>Bitcoin recently experienced a major, 33% decline in this bull market. This has pushed the Funding Rate for BTC into the negative, suggesting a potential buying opportunity for long-term investors.</p>
<p>Major investors, such as Blackrock and MicroStrategy, are capitalizing on this opportunity by increasing their Bitcoin holdings. This indicates a strong belief in Bitcoin’s future potential.</p>
<p>As the business cycle reaches a low point with the ISM index below 50, Bitcoin’s dominance in the market is expected to rise further.</p>
<h2 id="increasing-bitcoin-holdings">Increasing Bitcoin Holdings</h2>
<p>The number of Bitcoin addresses holding more than 0.1 BTC is steadily increasing. This growth signals not only an increase in Bitcoin’s dominance but also a surge in whale buying activities.</p>
<p>Over the past month, these whales have accumulated $23 billion worth of Bitcoin. Long-term holders, those planning to keep their BTC for the foreseeable future, also moved 404,448 BTC, valued at $22.8 billion, to their addresses.</p>
<p>This significant accumulation demonstrates a strong belief in Bitcoin’s future potential.</p>
<p>Meanwhile, Ethereum, the largest cryptocurrency after Bitcoin, initially rebounded strongly after this week’s market crash. However, it quickly lost those gains as Jump Trading continued to sell. The declining ETH/BTC chart suggests that Bitcoin’s dominance will likely continue to grow.</p>

Rising BTC Dominance Approaches 60%: Potential Altcoin Boost Ahead?

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CoinEagle.com

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