Bitcoin's dominance has surged to 56%, fueled by favorable political trends and the growing interest in spot BTC ETFs, especially among institutional investors. This marks a significant rise from 38% in November 2022 and is nearing a 40-month high. Despite the recent approval of Ethereum ETFs, they haven't matched Bitcoin's performance, as BTC continues to overshadow other altcoins, including Ethereum. The cryptocurrency's dominance has been on the rise since late 2022, with major contributions from BlackRock's BTC ETF. As the US elections approach, Bitcoin's future growth could see further catalysts.
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