In the dynamic world of cryptocurrency, Bitcoin’s (BTC) dominance has become a central narrative, reaching a remarkable peak of over 52% this week, its highest in 2023. This upward trend, beginning at 42% at the start of the year and gaining momentum in June, indicates a growing investor preference towards BTC, especially in the wake of the FTX collapse late last year.
The market, however, holds its breath as analysts hint at a possible “final flush-out” before the anticipated Bitcoin halving event, which traditionally impacts its value. Yet, amidst the BTC ascent, the overall market cap remains steady at about $1.4 trillion, suggesting that the crypto king’s gains might be overshadowing the performance of altcoins like Litecoin (LTC) which is currently witnessing a downturn.
Polygon (MATIC), in contrast, seems to be charting its own course, defying the broader market trends. With less than a 1% decline, MATIC outperforms BTC, demonstrating resilience in a market that has seen major
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