Bitcoin's market cap dominance has surged to 63.7%, reaching levels not seen since January 2021. This increase reflects a growing preference for Bitcoin amid global economic uncertainty, as investors seek its perceived stability. Notably, Bitcoin dominance hit 64% for the first time since February 2021, marking a significant shift in market dynamics. Analysts recall that during the last time Bitcoin dominance was at such levels, the price of Bitcoin rose dramatically from $20,000 to $69,000.
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