Bitcoin's dominance reached a new all-time high of 59.6% as BTC hit a new all-time high of $44,900 on January 7,After many weeks of bullish momentum, the leading cryptocurrency reached its lowest level since October 2019 at $43,736 on BitMEX. This all-time high has put BTC back on track for the second consecutive week, but the January weather remains challenging.As for the BitMEX chart, things look a little more optimistic for BTC, as the exchange's multiple indicator signals showed a small increase in momentum, which in turn confirmed the technical structure of the upward movement. Additionally, the purchasing power of $40 million worth of BTC futures on Deribit B continues to exceed that of BTC.Together with the increase in the purchasing power of bitcoin, the market is also showing a decrease in whale activity. According to cryptoquant, the number of addresses containing less than 100 BTC has increased to an annual high, while the number containing more than 100 BTC has fallen from a high of 2,294 in early January to 1,635 today. This all-time high is also a new all-time high for BTC.Janitor: bitcoin dominance increases as it relates to the number of BTC holdersA crypto trader and analyst identified the level of bitcoin dominance as the amount of addresses that contain at least 20,000 BTC.According to him, the data shows that 21,442 BTC holders are actively accumulating the asset, which is 61.6% of the total number of bitcoin addresses. He said:"As of January 7, 21,442 BTC holders are actively accumulating BTC. An incredible level for a technical trend, right? Well, not quite. As can be seen from the breakdown of the previous all-time high, the current level can be compared to the early part of 2017. There was a clear downtrend from the late 90s to the present."A technical analyst and trader known as "Byzantine General" said that the data may underestimate how strong the downward movement is. He said:"This chart is misleading. Mostly ivory towers are still in profit. At $ 44,900, BTC is still considered a safe haven. Every drop in price since mid-February has been profitable."The bullish momentum was undermined just a few weeks after the exchange's co-founder, Cameron Clark, announced that the company was exploring options trading in the futures market. At the time, the price of BTC plummeted from $ 45,000 to $ 34,600.While demand for options remains low compared to the peak of $ 57,900, in still, it is clear that many options traders are betting on further growth. Options traders have been aggressively buying since March, and this should continue in the coming week.If the price of BTC continues to hold above $ 44