According to The Block Research, Bitcoin’s dominance index has risen to its highest level since April 2021.
Following the launch of spot ETFs for Ethereum, many investors have begun reallocating their capital in favor of Bitcoin, leading to a significant increase in its market share. As a result, Bitcoin’s share has reached 55%, marking a record high in the past two years.
Altcoins have faced capital outflows as the majority of funds are now concentrated in Bitcoin. Ethereum, Ripple, and other major cryptocurrencies have seen a decline in trading volumes and prices.
Analysts also note that the recent conference in Nashville contributed to the growth of Bitcoin’s dominance index. Key industry figures spoke at the event, highlighting BTC’s long-term prospects and generating additional interest from institutional investors.
Moreover, the growing interest in Bitcoin is linked to expectations of stricter regulations for altcoins, prompting investors to seek more stable and proven assets. Experts predict that this trend may continue, further strengthening Bitcoin’s position in the cryptocurrency market.
