The dominance of Bitcoin, which refers to the proportion of the cryptocurrency market that is made up of Bitcoin, has reached its highest level this year as other digital assets and global equities markets experience a decline.
Currently, Bitcoin accounts for nearly 60% of the total capital invested in the crypto industry, a significant increase from the 51% it held on Friday.
Bitcoin’s price has dropped below $50,000 in Asian trading and is currently at approximately $51,000, the lowest it has been since the introduction of various spot Bitcoin exchange-traded funds in January.
