Risk Flight? Bitcoin Dominance Hits 9-Week High

Bitcoin's share of the cryptocurrency market hit a 2.5-month high last few weeks – a sign that investors are likely switching their money from alternatives into the industry's most widely traded asset
As tracked by the coinmarket cap, the gauge rose to 45.65 percent on saturday, which was the highest level since April 14, and finally saw a decrease of 42.5 percent.

The Dominance Index is an indicator that tracks the percentage of total cryptocurrency market capitalization, which contributes to major cryptosycurrency. Therefore, a growing dominance rate essentially means that demand for bitcoin is more than the demand of other innovations.
A flow toward bitcoin is usually seen at the start of the bull run, as it's a common route for fiat money to enter the cryptocurrency market.
For example, BTC's dominance rate increased 38 percent to 66.5 percent in last six months from December 2017 - at a time when btc reached $ 1,760 to $ 20,000. However, it is increasing even during the period of deviation - when investors go to high-risk alternate cryptocammaries and bitcoins, and then possibly go to Fiat currency.

And this is the latter scenario that we are currently looking at. In the last seven weeks, BTC has decreased from $ 9,990 to $ 5,755 and still, the BTC dominance has increased from 35.78 percent to 42.75 percent.

So, writing on the wall is clear: Right now, many investors prefer cash on any of the cryptocurrencys, including bitcoins.

If the prices start with the BTC dominance rate, then it may mean that crypto markets have declined, eventually a floor is getting after months of decline