Bitcoin Dominance Falls to 56.75% as Cryptocurrency Market Cap Surges to $1.46 Trillion

On December 2nd, COINOTAG reported a significant trend in the cryptocurrency market, noting a decline in Bitcoin’s dominance rate (BTC.D) to 56.75%. This figure represents an 8.15% decrease from the bull market peak observed on November 21st, when dominance was recorded at 61.78%. In parallel, the total market capitalization of cryptocurrencies, excluding Bitcoin (TOTAL2), has witnessed a robust increase. After reaching a low of $856.1 billion on November 5th, the market capitalization has surged approximately 70%, now positioned at $1.46 trillion. These dynamics indicate a shifting investor sentiment as alternative cryptocurrencies gain traction, reflecting broader trends within the digital asset landscape. It is essential for traders and investors to monitor these shifts closely as the market evolves.