Crypto analyst Rebecca Stevens attributes this surge to fears of inflation, geopolitical turmoil, and a fragmented U.S. government, which have collectively reinforced Bitcoin’s position as a hedge against worldwide uncertainties. As the digital currency approaches spot ETF approval, experts suggest that without a substantial Bitcoin rally, altcoins may struggle to attract significant investments.
The current market trend suggests a growing preference for Bitcoin over other cryptocurrencies, which is reflected in its increasing market share. This trend is likely influenced by Bitcoin’s potential as a safe haven asset in times of economic and political instability.
As Bitcoin continues to solidify its position in the market, it remains to be seen how this will affect the broader cryptocurrency landscape. However, as experts point out, the future of altcoins could largely depend on Bitcoin’s performance in the face of ongoing global uncertainties.
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Source: Cryptocurrency - investing.com
