Bitcoin's market dominance has surged to an all-time high, standing at over 49% and nearing 50% of the total cryptocurrency market capitalization.
This trend is attributed to a recent price increase, driven by a sharp spike around October 16th. However, trading volume has dipped by over 40%, and the market cap has slightly decreased.
Bitcoin is currently trading at around $28,400 with an RSI above 60, indicating a strong bullish trend.
The RSI position also suggests a potential price decline, which could lead to reduced market dominance.