Matrixport: Bitcoin market dominance climbs to 58%, altcoin craze delayed

Matrixport stated that the market dominance of Bitcoin continues to climb, now reaching 58%, indicating that the altcoin craze has not yet arrived. Although there are more than 20,000 cryptocurrencies on the market, the focus is still highly concentrated on Bitcoin. The dominant position of Bitcoin shows that ETF inflows have no significant impact on altcoins and implies that retail investors have not entered in large scale. The trading volume of Bitcoin has doubled from $10 billion to $20 billion in 2023 to $20 billion to $40 billion, further highlighting the increasing influence of Bitcoin. From a risk-adjusted perspective, Bitcoin remains one of the most attractive trades in the current crypto market.