Analysis: BTC market value has reached a two-year high, but prices may face resistance

According to the chart of, the market value of BTC accounts for more than 72.5% today. The price of Bitcoin returned to the five-digit number, keeping it within the range, but the altcoin did not show similar momentum. The last time Bitcoin dominated such a high position was in July 2017, when the price was only $2,450 and the market value was $900 million. However, this is a peak, so the last BTC dominance lasted much earlier in May 2017, when it fell from over 80%. Analysts say it may face resistance here, and alanmasters commented on TradingView that there are some bearish signals on the chart: lower and decreasing trading volume, MACD and RSI bearish divergence, forward resistance, RSI overbought . Instead, some analysts have drawn a clear upward trend, predicting that bitcoin will rise further as the altcoin disappears.