Meanwhile, bitcoin lost just 3%. The relative outperformance perhaps stemmed from increased haven demand – investors moving money out of altcoins and into bitcoin, the world's largest and most liquid cryptocurrency.
"Bitcoin's relative dominance mooning amid altcoin market sell-off. Flight to majors ," pseudonymous crypto trader and analyst @52kskew tweeted.BTC's dominance rate has been steadily rising since November and surged during the March U.S. banking crisis.
Source: News Formal (newsformal.com)
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