Bitcoin Dominance Hits 61% as Altcoin Rally Fades Post-Election

Bitcoin Dominance Hits 61% as Altcoin Rally Fades Post-Election

Despite a notable drop in liquidity in the larger cryptocurrency market, Bitcoin's dominance has risen to a new cycle high, reaching 61%. Matrixport claims that the Federal Reserve's increased hawkish approach and better-than-expected U.S. job growth are the main causes of this change. Strong labor markets frequently indicate a strong economy, which increases the possibility of higher interest rates or a postponement of anticipated rate reduc...

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