Matrixport: Bitcoin dominance rate rises to 58%, altcoin boom delayed

Matrixport released a chart saying that Bitcoin's market dominance continues to rise and has now reached 58%, indicating that the altcoin boom has not yet arrived. Although there are more than 20,000 cryptocurrencies on the market, the market's attention is still highly concentrated on Bitcoin. Bitcoin's dominance shows that ETF fund inflows have not significantly driven altcoins, and it also suggests that retail investors are still not entering the market on a large scale. Bitcoin's trading volume doubled from $10 billion to $20 billion in 2023 to $20 billion to $40 billion, further highlighting the increase in Bitcoin's influence. From a risk-adjusted perspective, Bitcoin remains one of the most attractive trades in the current crypto market.