Bitcoin's market share is approaching 60%, raising speculations about the future of the altcoin sector, says Vivien Lin.
Bitcoin Leads in Market Capitalization
Vivien Lin notes that Bitcoin's supremacy signifies a resilient move toward the top asset. During market uncertainty, many see it as a 'safe haven.' This could lead to mixed implications for other digital assets, particularly altcoins. Bitcoin's market share has reached approximately 58.6%, linked to macroeconomic factors like anticipated Fed policy changes and potential interest rate cuts. These events have heightened Bitcoin's demand as a stable asset, especially during uncertain periods, pushing its price near the $75,000 psychological threshold. For many investors, Bitcoin's stability amidst volatility makes it a dependable choice.
Capital Flow Shifts from Altcoins to Bitcoin
According to BingX's report, the increase in Bitcoin's market share has resulted in a worrying situation for altcoins. In this context, capital flow is shifting from minor assets. Many altcoins rely on innovative applications to attract investments. However, Bitcoin's dominance can impede this growth, leading to reduced liquidity.
Bitcoin's growing market dominance is creating complex conditions for altcoins while emphasizing its role as a reliable investment tool.
