Bitcoin's market dominance has surged to over 57%, its highest level since April 2021, indicating a market preference for Bitcoin's stability over altcoins. Despite this dominance, a trader expresses a bearish outlook due to recent price movements. Bitcoin added less than 1% in the past 24 hours and experienced a decline of nearly 4% from its peak earlier this month. Meanwhile, Solana's SOL token rose by 5% to $173, reflecting strong activity within the Solana network, particularly driven by AI-themed memecoins. The record-high trading activity on Solana has spurred the creation of over 40,000 new tokens in a single day. Experts suggest that while Bitcoin's dominance is increasing, it does not necessarily indicate a continued upward trend. A potential support level for Bitcoin stands at around $66.8K, and a drop below this could lead to a deeper correction.

Source 🔗