Golden Finance reported that according to data from The Block, Bitcoin's market dominance soared to 52.92% last weekend, a new high since April 2021. This growth was mainly driven by the approval of spot ETFs, despite the overall market volatility. Bitcoin's market dominance has remained between 44% and 53% over the past year. However, the recent news that the Federal Reserve only expects one interest rate cut in 2024 has caused Bitcoin to fall 5.3% in the past week. In contrast, many small-cap tokens such as FLOKI, STRK, IMX, and FIL have fallen by double digits in the past seven days. Despite this, Bitcoin is seen as a lower-risk asset due to its high regulatory recognition and institutional adoption. As the market rebounds, Bitcoin's dominance has begun to decline.