Bitcoin Dominance temporarily rose to 64.67% before falling back to 64.30%.

BlockBeats News, April 23rd, according to TradingView data, Bitcoin Dominance (BTC.D) this morning surged to touch 64.67%, reaching a new high since February 2021, and has now dropped to 64.30%. The high Bitcoin Dominance indicates the silence of the altcoin market, but it may also suggest that a bottoming bounce is imminent.

According to previous historical data, when Bitcoin Dominance surged above 60% in November last year, altcoins started a mini bull market. In both 2019 and 2021, when Bitcoin Dominance reached above 70%, it was followed by a broad and vigorous bull market.