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Bitcoin's market dominance approaches multi-year high

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Bitcoin's market dominance rate, which tracks its share of the combined crypto market, is approaching a multi-year high.

Bitcoin's market dominance is approaching a multi-year high, rising to 51.2% on Tuesday and closing in on the two year high of 52% reached at the end of June, according to TradingView data.

"In aggregate, Ethereum ETPs only attracted a meager plus $0.9 million in net inflows last week despite the debut of these new ETFs. In comparison, net inflows into Bitcoin ETPs amounted to plus $85.4 million last week," Dragosch added. "The underperformance appears to be related to the fact that bitcoin developer Robin Linus published a research paper that suggests that 'any computable function can be verified on bitcoin'."

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