Bitcoin’s dominance in the cryptocurrency market has reached a 3.5-year high, leaving altcoins trailing behind. This surge in Bitcoin’s dominance comes as investors continue to flock to the leading cryptocurrency, while altcoins struggle to keep up.
According to data from Cointelegraph, Bitcoin’s dominance in the market is now at its highest level since early 2018. This means that Bitcoin is accounting for a larger share of the overall cryptocurrency market cap, while altcoins are seeing their market share decrease.
The rise in Bitcoin’s dominance can be attributed to a number of factors, including increased institutional interest in the cryptocurrency and growing mainstream acceptance. As a result, investors are turning to Bitcoin as a safe-haven asset amidst economic uncertainty.
While Bitcoin continues to dominate the market, altcoins have been left behind. Many altcoins have seen their prices stagnate or even decline in recent weeks, as investors focus their attention on Bitcoin.
It remains to be seen whether altcoins will be able to catch up to Bitcoin’s dominance in the market. For now, Bitcoin remains the undisputed leader in the cryptocurrency world, with its dominance showing no signs of slowing down.