Matrixport: Bitcoin dominance in the cryptocurrency market has reached 50% and will continue to grow

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Analysts at crypto services provider Matrixport believe that the mass filing of applications to launch spot bitcoin ETFs is revivingthe digital asset market and may be a catalyst for the growth of the value of BTC.

Head of Research Department MatrixportMarkus Thielen told CoinDeskTV viewers that his staff is seeing a lot of "potential buying pressure on BTC," especially from investors interested in a spot exchange-traded fund offering.

Against this background, the level of Bitcoin dominancein the overall digital asset market rose to 50.2%, the highest in a month and close to the 26-month high of 52% reached at the end of June. 

According to Markus Thielen, the growth driver
Bitcoin's dominance was the filing of an applicationBlackRock company to create a BTC spot exchange-traded fund. On the afternoon of September 19, the market value of the first cryptocurrency by capitalization showed growth, and the price exceeded $27,000.

Previously, PayPal co-founder and Lightspark CEO David Marcus does not believe that Bitcoin will become a popular method of paying for purchases.