Bitcoin’s dominance rose to 52.6% as the price surged as the cryptocurrency outperformed the altcoin market. The asset is up 152% year-to-date, with the overall cryptocurrency market cap growing by more than 3% to reach May 2022 levels. Currently, more than 80% of BTC holders are making profits.
It’s worth mentioning that Bitcoin’s latest surge triggered more than $190 million in liquidations, $150 million of which were short positions.
Optimism surrounding the approval of spot Bitcoin exchange-traded funds (ETFs) has been one of the main forces driving Bitcoin’s surge. The cryptocurrency community believes that the U.S. Securities and Exchange Commission (SEC) is more likely to approve an ETF between January 5 and 10. (Cryptopotato)