Bitcoin Dominance Surges, Accounting For Nearly Half of The $1T Crypto Market, Amid Altcoin Selloff

📆 10/06/2023 11:56 a. m.
📰 CoinDesk

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Bitcoin's dominance rate spiked early Saturday as crash in alternative cryptocurrencies triggered a flight to safety. reports godbole17.

Meanwhile, bitcoin lost just 3%. The relative outperformance perhaps stemmed from increased haven demand – investors moving money out of altcoins and into bitcoin, the world's largest and most liquid cryptocurrency.

"Bitcoin's relative dominance mooning amid altcoin market sell-off. Flight to majors ," pseudonymous crypto trader and analyst @52kskew tweeted.BTC's dominance rate has been steadily rising since November and surged during the March U.S. banking crisis.

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