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.
Source: https://www.coindesk.com/markets/2022/10/06/market-wrap-bitcoin-trades-flat-for-a-second-consecutive-day-but-outpaces-traditional-markets/?utm_medium=referral&utm_source=rss&utm_campaign=headlines