Crypto market remains in Bitcoin's grip, and things are unlikely to change anytime soon
The flagship cryptocurrency now boasts its biggest share of the market since April 2021. Back then, Bitcoin's market share collapsed as much as 16.64% within a single month.In September 2022, Bitcoin's dominance briefly collapsed below the 40% mark amid a grueling bear market to reach a local low of 38.84%.Now, the crypto king is ruling the roost once again, and it does not look like it is going to cede ground to altcoins anytime soon.
However, the cryptocurrency managed to pare its losses in a relatively short span of time after CEO Paolo Ardoino took to social media to downplay the investigation as"old noise."According to analyst James Van Straten, this cycle is different since there is very little capital rotation into Ethereum from Bitcoin.
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