Bitcoin Was Made for Crisis
Bitcoin's dominance is once again approaching the 50% mark, resembling the trend observed during the prolonged bear market from 2018 to 2022. Over the past week, Bitcoin's dominance has surged by 4.1%, reaching its highest level since April 2021.
Bitcoin's dominance increases during bear markets, as investors seek the relative stability it offers compared to altcoins, especially during market downturns. The recent rise in Bitcoin's dominance can be partially attributed to the underperformance of altcoins following the SEC's legal actions against Binance and Coinbase
$BTC has outperformed top altcoins like $ETH and $BNB. ETH witnessed a 7% drop, while BNB suffered a significant decline of 25.5%. Other altcoins, including $ADA, $MATIC, and $SOL, have also experienced substantial decreases