U.Today - Prominent cryptocurrency trader and entrepreneur Willy Woo has taken to X to share his take on the future expansion of Bitcoin's dominance on the crypto market.

This is a significant increase compared to 2022, when this important metric showed 45% domination. This rise indicates a substantial increase in Bitcoin's control over the crypto market.

Prominent cryptocurrency trader and entrepreneur Willy Woo has taken to X to share his take on the future expansion of Bitcoin (BTC) dominance on the crypto market.

This year, we might yet see a 66% Bitcoin (BTC) market dominance, according to a playful suggestion from macroeconomic analyst and managing director at Point72, Ben Cowen.

"What will a 66% Bitcoin (BTC) market dominance feel like?" Cowen asked in a recent post on X.

This is a significant increase compared to 2022, when this important metric showed 45% domination. This rise indicates a substantial increase in Bitcoin's control over the crypto market.

This may potentially be interpreted as future capital exits from altcoins and more inflows into the global flagship crypto, BTC. Still, Cowen playfully wonders what a 66% Bitcoin market dominance will feel like.

Among crypto enthusiasts and investors who commented on Cowen's tweet was Willy Woo. He expressed a view, according to which Bitcoin dominance is to skyrocket above the 90% mark over the next 15 years.

"We'll be back to 1995 with MSFT, CAT, and GE in the top 5, and an iron-triangle in the top 10 (pale blue in the chart). This time with AAPL in the mix, and we'll have reached a new socio-economic equilibrium," the analyst stated.

"It will also be interesting to see how the narrative around Bitcoin and blockchain technology develops over the next 15 years," one X user noted.

Earlier this week, on-chain data agency CryptoQuant reported that there is likely a major sell-off taking place at Coinbase (NASDAQ:COIN) at the moment.

According to the agency's analysis, Coinbase's BTC premium is much lower than on other crypto trading platforms, which indicates possible high selling pressure on that exchange.

"It seems like Coinbase is selling a lot of BTC at a premium to keep the market making activity going," the agency stated in a recent tweet.

"The premium on Coinbase is getting lower and lower compared to other exchanges. Usually, when the market rises, the BTC premium on Coinbase gets higher due to high demand for BTC in fiat currency at that time."

Moreover, a large batch of 5,195 Bitcoins (BTC) was recently moved to Coinbase in three transactions.

According to data from blockchain analytics firm TRM Ingelligence, the first transaction, completed on August 8, saw 1,294 BTC, valued at $121,367,397, being transferred to Coinbase Institutional from an unknown wallet.

The second transaction, also completed on August 8, involved 1,794 BTC, valued at $168,231,221, being moved to Coinbase from Cumberland.

Finally, the third transaction, completed on August 9, saw 2,107 BTC, valued at $197,736,862, being transferred to Coinbase from an unknown wallet.

The three transactions totaled 5,195 BTC and were valued at $487.2 million in total.