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Bitcoin Dominance Reached Its Highest Level in the Last Three Years! Here’s Why

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Bitcoin cryptocurrency Its dominance of the market rose to its highest level in nearly three years as altcoins weakened due to geopolitical tensions and a strengthening US dollar.

Bitcoin Dominance Nears 3-Year High Amid Altcoin Weakness

Bitcoin (BTC) on Thursday $60,000 remained above the support level and in the last 24 hours 1% with increase $61,100 It traded around . This situation was reflected in the previous day’s transactions $60,000 It came after a brief decline to gold.

Despite Bitcoin’s resilience, the broader crypto market has struggled. Ethereum’s ether (ETH) 1%While falling, significant losses were recorded in altcoins such as Ripple (XRP), Solana (SOL), Avalanche (AVAX) and Render (RNDR).

However, layer-1 blockchain Aptos (APT)during the day 7% showed a remarkable performance by gaining value. Increase, Franklin Templeton It follows news that ‘s has expanded its tokenized money market fund to Aptos’ blockchain.

Analysts say investors 110% registering an increase of Sui’from (SUI) He thinks he may have shifted his profits.

Bitcoin’s performance has increased by increasing its share of the total crypto market cap. Bitcoin dominance the highest level in recent years 58%It rose above . Meanwhile ETH/BTC rate 0.038It fell to close to its lowest level since mid-September.

Market participants are awaiting Friday’s US employment report, which could impact risk assets such as cryptocurrencies. crypto hedge fund QCP Capital“A combination of expected rate cuts and workforce strength could increase risk assets,” he said.

As market volatility continues, Bitcoin’s dominance underscores its safe-haven status, while smaller cryptocurrencies remain vulnerable to external pressures.

*This is not investment advice.

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