Recent analysis from Glassnode highlights a significant rise in Bitcoin's market dominance, now at 56%. This increase is mainly attributed to consistent accumulation by long-term holders.
The rise comes despite ongoing market volatility, showcasing investor confidence in Bitcoin over other cryptocurrencies. These key insights suggest a strengthened position for Bitcoin in the broader cryptocurrency market.
Accumulation by long-term holders indicates their belief in Bitcoin's enduring value, reinforcing its market position even amidst fluctuations.
