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<p>On December 5, 2024, Bitcoin reached a historic milestone by hitting a record price of $104,000. This spectacular rise also led to an increase in Bitcoin’s dominance in the crypto market, which rebounded to 57%, coming out of a recent drop!</p>
<h2 id="h-bitcoin-dominance-rebounds-to-57">Bitcoin dominance rebounds to 57%!</h2>
<p>The dominance of Bitcoin in the crypto market had declined in recent weeks, reaching 54%, while <a href="https://www.cointribune.com/en/bitcoin-loses-ground-ethereum-on-its-way-to-the-top/" target="_blank" rel="noopener noreferrer nofollow">Ethereum had seen its share increase by 13.5%</a>. However, the recent surge in BTC’s price propelled its dominance by 4.4% in 24 hours, lifting it to 57%.</p>
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<p>According to data, <a href="https://www.tradingview.com/symbols/BTC.D/" target="_blank" rel="noopener noreferrer nofollow">the market share</a> of Bitcoin had peaked at 61.8% on November 21 before dropping. This decline was attributed to BTC consolidating around $95,000, while altcoins like BNB, Tron (TRX), and XRP continued to rise. But everything changed when Bitcoin exploded above the $100,000 mark during the early trades of December 5.</p> 
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<h2 id="h-crypto-market-reaction">Crypto market reaction</h2>
<p>Market analysts, such as Income Sharks, <a href="https://x.com/incomesharks/status/1864512542846144735?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noopener noreferrer nofollow">commented</a> that Bitcoin seemed “jealous” of the attention given to altcoins and wanted to remind everyone that it is still the king. This power surge of BTC also led to massive liquidations of short positions, totaling $132 million over the last four hours.</p>
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<p>Moreover, the Bitcoin fear and greed index is currently at an “extreme greed” level of 84. This level peaked at 94, its highest since December 2020, when BTC hit a peak of $99,000 on November 22. Additionally, Google searches for “Bitcoin” also saw a significant increase, indicating a growing public interest in this cryptocurrency.</p>
<p>In summary, the recent rise in Bitcoin’s dominance to 57% demonstrates not only its resilience but also its ability to control the crypto market. While altcoins continue to play an important role, <a href="https://www.cointribune.com/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a> remains the benchmark in terms of value and stability in the world of cryptocurrencies.</p>

Bitcoin Soars And Takes Back 57% Of The Market

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