Quick Take
Data analysis reveals a noteworthy trend in the crypto market as Bitcoin’s dominance has surged, hitting a fresh year-to-date high above the 54% mark. This is a level unseen since April 2021, highlighting Bitcoin’s increasing hold over the crypto market.
Concurrently, the Ethereum to Bitcoin ratio has sunk to a new low of 0.053, while Ethereum sits above $1,800. This inverse relationship demonstrates how Bitcoin’s growing dominance has potentially impacted Ethereum’s position in the market.
The post Bitcoin’s dominance hits highest level since April 2021 as Ethereum suffers appeared first on CryptoSlate.
