Bitcoin's dominance in the cryptocurrency market has continued to increase despite the creation of new memecoins. This is due to the involvement of institutional investors, with Bitcoin ETFs managing over $39 billion worth of assets. Private transactions using CoinJoin have tripled since 2022, indicating significant accumulation of BTC by whales. Meanwhile, Ether is experiencing its longest slump ever against Bitcoin, down 65% since 2022, and may test a key support level of 0.030 BTC if weakness continues. It is important to note that this article does not offer investment advice and readers should conduct their own research before making any decisions.
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Bitcoin Dominance Continues to Rise as Ethereum's Native Token Slumps Against It
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On August 29, according to monitoring by Trader T, the US spot Ethereum ETF recorded a net inflow of $102.17 million yesterday. -
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BTC Surpasses $78,000
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