Matrixport: Altcoins perform weakly, Bitcoin dominance rises to 60%

Odaily News Matrixport released a chart showing that driven by multiple positive factors, Bitcoin's market dominance will steadily rise from 50% to 60% in 2024. This trend reflects the strong support of Bitcoin in the entire crypto market. More and more traditional financial (TradeFi) investors are allocating Bitcoin through ETFs, and the proportion of open interest in CME Bitcoin futures to total Bitcoin futures trading volume has also increased significantly. At the same time, altcoins are constrained by declining user activity and pressure to unlock tokens, in stark contrast to the explosive growth of the DeFi boom in 2020-2021. Today, investors are seizing the opportunity to gradually transfer crypto assets to Bitcoin, verifying Michael Saylor's point of view: "The only choice is the best choice."