Bitcoin Dominance Reaches New High Amid Ether's Underperformance
Bitcoin's dominance in the cryptocurrency market has reached a new high of 58.91%, a level not seen since April 2021. This rise in dominance can be attributed to the underperformance of ether. Despite this, the cryptocurrency market as a whole has been on the rise, with bitcoin leading the way with a week-over-week gain of over 12%, breaking the $68,000 mark for the first time since late July. The CoinDesk 20 Index, which measures the performance of the top 20 cryptocurrencies, has also seen an increase of 9% over the same time period.
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