June 30 (Cointime) - Bitcoin's dominance in the cryptocurrency market has reached a two-year high of 58%. This ratio measures Bitcoin's market cap compared to the total market cap of the cryptocurrency sector, which currently stands at $1.18 trillion. Bitcoin's dominance dropped to the mid-50s in 2020 due to scandals and a transition from loose to tight monetary policies.
However, its dominance has risen again due to the uncertain macro-climate and US regulatory crackdown on crypto, leading to institutions reconsidering their role in the market. Only time will tell how Bitcoin's dominance will play out in the coming months.
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