Bitcoin Tightens Grip on Crypto Market as Traders Avoid Smaller Tokens
- Smaller coins are nursing losses sparked by US SEC lawsuits
- Prospect of more Fed tightening weighs on market as a whole
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Bitcoin’s share of total crypto market value is the highest in about 20 months, a sign of the cautious mood in digital assets.
The token wavered near $25,000 on Thursday, giving it a capitalization of $484 billion — or 45.8% of the value of the more than 10,000 coins tracked by CoinGecko. That’s the highest percentage since October 2021.