Bitcoin, the largest cryptocurrency exchange in the world, now controls over 60% of the market. This notable increase comes when altcoins like Solana are experiencing a lot of volatility. Bitcoin Takes the Lead as Market Dominance Grows According to reports, Bitcoin’s dominance in the crypto ecosystem has soared beyond 60%, indicating a 5% increase over the past month and a 12% rise over the past year. Notably, this growth results from institutional investors turning to (BTC) as a more reliable and stable token available in the market compared to other assets. It is worth mentioning that Bitcoin’s rapid growth comes amid notable price fluctuations in Solana. According to Coinmarketcap , Solana is trading around $178.38, with a 6% decrease in value over the last 24 hours. While commenting on the situation, Hina Sattar Joshi, Sales Director at TP ICAP Digital Assets, stated, “Bitcoin dominance is now over 60%, reflecting the increased consolidation of institutional sentiment and the growing role of professional investors in digital assets,” Libra Memecoin Collapse increases Bitcoin acquisition Unfortunately, the fall of the Libra memecoin has increased volatility in the altcoin market, particularly for assets like Solana. Last week, the Libra memecoin, which Argentine President Javier Milei sponsored, saw a drastic reduction in value due to launch difficulties. Following the decline, $4 billion in market capitalization was wiped out in a few hours. As a result, investor confidence was severely eroded, prompting more funds to flow into Bitcoin. “The downturn in Altcoin is a reflection of institutional capital flowing into bitcoin, which is now seen as a stable investment relative to other digital assets,” Hina added. What does this mean for Bitcoin? Bitcoin’s price has remained relatively stable in recent weeks, trading within a narrow range between $95,000 and $97,000. Many crypto analysts believe this price consolidation will continue until a new catalyst drives a significant shift. Bitcoin’s price action appears to be more influenced by macroeconomic factors than specific crypto developments. QCP Capital analysts noted, “Bitcoin has proven to be relatively unfazed by the recent macro data, and open interest has not recovered significantly after the January month-end expiry, and this suggests that the crypto options market is just waiting on the sidelines for concrete policy changes rather than just pro-crypto rhetoric,” Furthermore, experts suggest that Bitcoin’s medium-term prospects are closely tied to institutional inflows, particularly through spot Bitcoin ETFs. If Bitcoin maintains support levels and sees positive ETF activity, analysts believe it could push toward $100,000 or higher by the end of the week. Earlier this week, Metaplanet announced its recent acquisitions of 269.43 BTC, totaling $26.3 million. This buy increases the company’s total BTC holdings to 2,000 BTC. In addition, This is part its strategic initiative to buy 10,000 Bitcoin by the end of 2025 and 21,000 bitcoin by 2026, positioning itself among the largest corporate holders of the cryptocurrency globally. Last week, Strategy, a business intelligence firm formerly MicroStrategy, acquired 7,633 Bitcoin for $742.4 million , averaging $97,255 per Bitcoin. The post Bitcoin Dominance Reaches a New High Amid Altcoin Instability appeared first on TheCoinrise.com .
