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Why Is Bitcoin Dominance So Much Lower Than in Previous Bear Markets?

The Breakdown

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Is Bitcoin Dominance Losing Its Role as the Safe Crypto Asset?

Bitcoin's spot volumes have dropped to local lows after the panic spike earlier this month. But they are still above levels at the beginning of the year, while those for ETH are notably lower. The strange behavior of Bitcoin dominance during the recent turmoil tells us that the market composition has changed. Speculation is not harmless and can destabilize markets especially if done with high leverage.

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