Bitcoin’s Market Dominance Climbs Near 60%, Signaling Shift in Crypto Sentiment

Bitcoin’s market dominance, the percentage of the total crypto market capitalization it holds, climbed past 60% in early November, according to data from NYDIG. Although it has since settled around 59%, this trend points to a noticeable shift in investor behavior during recent market corrections. 💰 As crypto markets experienced a more widespread downturn this month, investors seemed to favor Bitcoin as a safe haven amidst volatility. Historically, Bitcoin dominance tends to rise during periods of uncertainty as altcoins often suffer larger losses than BTC during downturns. 📈