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Bitcoin (BTC) dominance has risen to nearly 60%, approaching a four-year high, according to QCP Capital’s market outlook. Despite trading sideways for a while, BTC remains resilient in the face of recent macroeconomic data.
Bitcoin Dominance Nears 4-Year High as Market Awaits Policy Clarity
QCP analysts note that open interest (OI) in the crypto options market has not improved following the January-end expiration, suggesting that traders and institutional investors are hesitant to take new positions until concrete policy changes emerge.
“The crypto options market is waiting on the sidelines for concrete policy changes rather than just pro-crypto rhetoric,” QCP said.
BTC’s Strength Despite Uncertainty
Bitcoin’s dominance reflects its position as the go-to asset during times of market uncertainty. While altcoins have struggled to gain traction, BTC has remained largely unaffected by recent economic reports and policy statements, maintaining strong support.
As investors await regulatory clarity, the market remains in a holding pattern, watching for government actions that could provide a clear direction for crypto in 2025.
*This is not investment advice.
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