🚀 Bitcoin dominance hits a new cycle high of 58.91%, a level not seen since April 2021! 🌟

1/ Bitcoin {{BTC}} is on fire, extending its week-over-week gain to over 12%, now trading above $68,000 for the first time since late July. Meanwhile, the broader market, represented by the CoinDesk 20 Index, is up by 9%.

2/ BTC's market dominance has surged from 57.13% at the start of October to 58.91%, showcasing its strength. This marks the highest dominance since April 2021, reflecting a total crypto market cap of $2.281 trillion.

3/ A key factor? Ether's {{ETH}} underperformance. The ETH/BTC ratio is at its weakest since April 2021, currently around 0.03850. This highlights ETH's struggle, underperforming BTC in 16 of the past 23 months.

What are your thoughts on BTC's rising dominance? Share below! 👇