Bitcoin dominance increases as halving approaches and BTC price remains near $61K

On the rise

BTC and other digital assets continue to be challenged by the market.

Layer-1 and AI tokens performed worse than Bitcoin, leading to an increase in BTC's market dominance

Bitcoin {{BTC}} has become more dominant in the crypto market thanks to the impending halving and the market's greater risk aversion despite the price correction

The largest cryptocurrency by market cap traded below $61,400 during Asian trading hours on Thursday, according to data from CoinDesk Indices, as the selloff in risky assets, fueled by difficult macroeconomic conditions, picks up. .

The CoinDesk 20, a measure of the world's most liquid digital assets, fell 3.3% to trade at 2,125.

While bitcoin may be going through a challenging time, layers 1 and altcoins are getting worse. Top tier 1 tokens like Solana's {{SOL}} have fallen more than 20% in the past week. Avalanche's {{AVAX}} is down 26%, Cardano's {{ADA}} is down 23%, and Filecoin {{FIL}} is down 30%.