Bitcoin’s dominance has recovered more than 2% in the past week or so and tapped a multi-month high as the asset maintains above $20,000.
This comes even though the altcoins experienced notable gains yesterday, but many have retraced hard today.
Ever since bitcoin finally broke above $17,000 at the start of this week, the landscape around the asset has seemed significantly more bullish than it was at the end of 2022.
Read more: Bitcoin climbs above $20,000 first time in over two months
The past few days saw gains that the community hadn’t witnessed in months. The cryptocurrency first spiked above $18,000, overcame $19,000, and came close to $20,000 on Friday evening. The bulls initiated another leg up in the following hours that brought BTC to $21,250 (on Bitstamp).
This became its highest price tag in over two months and meant that bitcoin has recovered all losses from the FTX-Alameda fiasco. Despite losing some ground since that local peak, BTC still trades above $20,000, and its market capitalization is close to $400 billion amid ongoing speculations about the start of a new bull run.
