Bitcoin's market dominance has reached nearly 60%, its highest level in recent years, as investors withdraw from the altcoin market. This marks a 5% increase over the past month and a 12% increase over the past year, suggesting a shift in investor sentiment towards BTC. Analysts attribute this dominance to growing institutional interest in Bitcoin. Meanwhile, altcoins like Solana have experienced increased volatility, with the altcoin market being more sensitive to price swings compared to Bitcoin. The recent crash of the Libra memecoin, backed by Argentine President Javier Milei, has further eroded confidence in altcoins, leading to a reallocation of funds to Bitcoin. Some analysts remain bullish on Bitcoin's medium-term outlook, with expectations of continued institutional inflows and the impact of the 2024 halving.



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