Bitcoin tightens grip on crypto market in sign of cautious investor mood

📆 10/10/2023 03:19:00
📰 Moneyweb

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Bitcoin was little changed at $27 677 as of 11 a.m. in Singapore on Tuesday.

Bitcoin’s share of the cryptocurrency market is climbing toward levels last seen in 2021, a sign of the cautious mood in digital assets as investors favor the largest token.

Bitcoin’s outperformance of alternative coins bolstered its “longstanding claim to provide a safe haven, or at least diversification benefit, to traditional markets investments,” said Caroline Mauron, co-founder of digital-asset derivatives liquidity provider OrBit Markets. Even so, some investors are pinning their hopes on seasonal and technical patterns. Over the past decade, Bitcoin on average rose 24% in October, according to data compiled by Bloomberg.

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