Market Wrap: Bitcoin Trades Flat for a Second Consecutive Day, but Outpaces Traditional Markets
Bitcoin (BTC) was still trading above $20,000, roughly flat from 24 hours earlier, as the largest cryptocurrency by market capitalization continues to trade in a tight range. BTC tested highs of $20,440, before retreating to current levels. Bitcoin dominance, a measure of the BTC’s market cap relative to the market cap for all cryptocurrencies, has increased to 41% since hitting a 2022 bottom of 39% on Sept 10. The uptick in BTC dominance highlights a shift in overall investment in cryptocurrencies, to bitcoin.