Bitcoin managed to hold above the $60,000 support level, while many other altcoins experienced a decline. The surge in the value of the U.S. dollar, driven by strong economic data and geopolitical turmoil, impacted risk assets. There was also a spike in a key interbank borrowing rate, suggesting possible U.S. dollar liquidity stress. Despite this, Bitcoin's market dominance increased, reaching over 58%, while the ETH-to-BTC ratio declined. A notable outperformer was the native token of layer-1 blockchain Aptos. The overall market sentiment is also influenced by concerns about military escalation in the Middle East and strong U.S. dollar performance. The upcoming U.S. jobs report is anticipated to have an impact on risk assets.
- Content Editor ( coindesk.com )
- 2024-10-03
Bitcoin Dominance Nears 3-Year High Amid Altcoin Weakness; Aptos Outperforms as SUI Drops