Bitcoin, Not Ether, Builds Crypto Market Dominance Ahead of Ethereum’s Shanghai Upgrade

“BTC got the store-of-value narrative back after multiple U.S. banks failed in mid-March. Since then, BTC’s dominance rate has been rising,” Dubai-based crypto analyst and trader Reetika Malik said. Dominance rate is now at a “multiyear resistance” that has capped the upside in the past, meaning ether and other coins could soon outshine bitcoin, per Malik.

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