Bitcoin Dominance Holds Strong at 48.51% Amidst Market Surge

• Bitcoin leads the crypto surge, trading above $34K with a 21.88% weekly gain, driving market cap to $675.05B.
• Dogecoin and Solana shine with impressive daily gains, while Cardano matches Bitcoin’s weekly growth.
• The crypto market’s overall cap rises by 2.43%, showing ‘Greed’ sentiment with BTC dominance at 48.51%.

According to a recent tweet by CryptoRank, an analyst, market indicators painted a promising picture for cryptocurrency enthusiasts as Bitcoin price trades above $34K. The top-10 cryptos are traded in green zone, with DOGE showing a surge of 8.55%, $SOL 5.46%, and $ADA 4.67%.The cryptocurrency market capitalization has surged by 2.43% to reach $1.4 trillion, while Bitcoin’s dominance has slightly decreased to 48.51%. The Fear & Greed Index indicates a level of 71, signaling greed in the market. Reflecting on this, the digital currency market has indeed shown a robust upward movement, led by Bitcoin, the pioneering cryptocurrency, which now trades at a notable $34,575.08.

Moreover, Bitcoin’s remarkable 21.88% weekly surge has further solidified its position, bringing its market capitalization to an awe-inspiring $675.05B. This growth is supported by its limited circulating supply of 20 million BTC.

Additionally, it’s not just Bitcoin enjoying the bullish breeze. Dogecoin, often recognized for its humorous inception, boasts a 10.09% rise in just 24 hours, pricing each DOGE at $0.071858. Consequently, it’s now valued at a market cap of $10.17B, underpinned by its massive circulating supply of 141.57B.

Solana too has made its mark, trading at a commendable $32.52. With its market cap touching $13.59B, it has seen a growth of 4.69% in the past day, supported by its circulating supply of 417.94M.

Not to be outdone, Cardano (ADA) rides the bullish wave with its price standing at $0.293792. After a 5.48% rise in the last 24 hours, its weekly growth matches Bitcoin’s, at 21.32%. This, combined with its vast circulating supply of 35 billion ADA, gives it a market cap of $10.28B.

However, the broader picture reveals an increase in the total crypto market cap by 2.43%, now pegged at $1.4T. While Bitcoin’s market dominance has seen a slight dip, it remains a formidable force, holding 48.51%. The prevailing sentiment, as indicated by the Fear & Greed Index, points to a predominant ‘Greed’ in the market.