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Bitcoin’s Crypto Dominance Is Strongest Since Bull Market Highs

  • Bitcoin’s 44% share of market cap is highest since October
  • ‘Whales’ shifting Bitcoin to exchanges could spark declines
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Bitcoin is regaining its dominance of the cryptocurrency universe.

It now accounts for 44% of total crypto market value, the most since October, just before the latest bull market peaked, based on data from CoinGecko. Bitcoin’s renewed hegemony is a reflection of how the collapse of the TerraUSD stablecoin earlier this month has ravaged smaller tokens like Avalanche and Solana.