Bitcoin's dominance has surged beyond 50% as altcoins face a period of dormancy in the market. This comes after setbacks in August and early September. Currently, Bitcoin holds a market cap of $521 billion and is trading at $26,814, marking a 3.79% increase over the past week.

Despite the recovery in Bitcoin's dominance, its price remains 17% lower than its June peak. However, since mid-summer, Bitcoin's dominance has continued to surpass the records of 2021.

Benjamin Cohen, the head of ITC Crypto, commented, "You know what would be better than 50% Bitcoin dominance? 60% Bitcoin dominance." According to Root analyst data, the portion of Bitcoin held by long-term holders is at 75.8%, nearly reaching an all-time high.

The total cryptocurrency market capitalization is at $1.09 trillion, reflecting a 4.7% increase over the past week, according to CoinGecko. However, on September 12, the market experienced a significant outflow of $50 billion following Bitcoin's drop below $25,000.

While Bitcoin exhibits mild volatility, altcoins appear to be in a state of hibernation. Over the past seven days, the prices of major altcoins have remained relatively stable or dipped into the red. The only notable exception is Toncoin (TON), which has rapidly climbed to the tenth position in market capitalization due to its integration with the Telegram crypto wallet.

Previously, BitMEX co-founder Arthur Hayes suggested the possibility of a brief drop in Bitcoin's price below $20,000, followed by a new bullish impulse. However, he later pointed to positive prospects for the leading cryptocurrency despite the policies of the Federal Reserve.

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