Bitcoin’s price is inching closer to $28,000, charting an increase of around 1% over the past 24 hours. This comes as most of the altcoins are trading flat over the same period.

One thing that’s important to note, not just for the past 24 hours but for the past couple of weeks, in general, is that Bitcoin’s dominance is increasing. This is the metric that tracks its share relative to that of the rest of the market and is an indicator of how BTC performs compared to altcoins.

Currently, BTC dominance stands at a high not seen since June 2022, indicating that it’s outperforming most of the alternative cryptocurrencies.

(By George Georgiev)