Bitcoin's share of the cryptocurrency market has reached its highest level in four years, with over 60% dominance. This is due to a shift towards safety among investors, who are opting for the relative stability of Bitcoin over speculative assets. This suggests that a widespread rally in alternative cryptocurrencies may not be realized, as only select altcoins have a high correlation with Bitcoin. The crash of key tokens like Terra in 2022 has caused many investors to view the crypto market as a huge risk, leading them to exit or move to Bitcoin. Institutional adoption, particularly through Bitcoin exchange-traded funds, is also driving Bitcoin's growing dominance.



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