Crypto Diaries: A New Analysis shows BTC dominance is more than 90%

Bitcoin hash rate keeps making new highs & more on stories that mattered last week

For the past ten days or so Bitcoin has shown some resilience in warding off the bearish pressure with the psychological $10K acting as support. BTC is at a key juncture on which the future of the recent bull market is dependent upon, especially since the premiere coin has been the sole driver of this rally.

Alt. coins have been far anemic in their gains and posting bigger falls. While BTC may still fall further to the mid-July low around the $9,000 mark. I will remain cautiously optimistic about the bullish sentiment. A penetration of this level, however, would signal extended weakness to $7600. On the topside, confirmation of the bullish trend will come with the break of the $12K level.

You might be familiar with the market dominance measure used by services like Coinmarketcap used to measure the share of the market particular crypto holds. Bitcoin is hovering around the 70% mark. The simplistic formula to calculate this is as follows:

(Crypto price * Circulating supply) / Total market capitalization of all coins

The current BTC dominance, according to Arcane Research is not a correct…