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On this week’s episode of The Market Report, Cointelegraph looks at the probable causes of recent Bitcoin price action, and its market dominance reaching 50% of the total crypto market cap. In the latest episode of  The Market Report,  Cointelegraph analyst and writer Marcel Pechman explains what’s behind Bitcoin (BTC) reaching 50% crypto market dominance for the first time in two years amid Blackrock’s spot exchange-traded fund (ETF) filing, and the United States Securities and Exchange Commission’s crackdown on altcoins. According to Pechman, it must be admitted that no one expected Bitcoin to become the second-largest nonfungible token blockchain. Analysis from CryptoSlam shows that the 30-day adjusted data — excluding wash trades — was $380 million for Ether (ETH), versus $104 million on Bitcoin and $40 million on Solana (SOL). Therefore, Michael Saylor’s call for 80% market dominance depends on decentralized finance moving to the Bitcoin network. While it might sound impossible ...

BTC’s rally to $29,400 comes as the all important CPI report releases on April 12 and traders debate whether the Federal Reserve will pivot. Bitcoin (BTC) rose to its highest level in ten months on April 10 as traders await this week's April 12 consumer price index report to gain deeper insight into the Federal Reserve's fight against sticky inflation. If the report shows inflation dropping, it could be the next possible catalyst that further's BTC's upward move.  On April 10, BTC price soared 3.37% to over $29,300 after a quiet Easter weekend. Interestingly, Bitcoin's intraday gains appeared alongside a drop in U.S. equities, a rare decoupling that highlights the coin's diminishing risk-on characteristics. BTC/USD year-to-date returns versus U.S. stock indexes. Source: TradingView The pre-CPI dynamic could be in effect The Bureau of Labor Statistics will release March consumer price index (CPI) data on April 12, which expects to show Inflation down to 5.1% fr...