The market dominance of Bitcoin has reached its highest level in four years, standing at almost 60%. This indicates that investors are favoring Bitcoin over altcoins like Ethereum, which have struggled to attract capital due to their poor performance. The volatility of the cryptocurrency space is decreasing, and Bitcoin's price movement is being influenced by larger financial market trends, particularly a strong correlation with stocks. Despite uncertainties in the macroeconomic environment, such as inflation and regulatory changes, Bitcoin has remained relatively unaffected. Traders are adopting short-term strategies and waiting for tangible developments before making significant moves in the market. The current market conditions resemble those seen in the middle of 2023 when Bitcoin was facing difficulties in breaking out of its trading range.



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