Bitcoin Rallies to Yearly Highs and SAP Tests USDC
Crypto markets sharply continued their move higher today, with BTC and ETH rising 4.23% and 2.32%, respectively, at the time of writing. Bitcoin continues to lead the market, evidenced by it breaking its yearly highs and Bitcoin’s Dominance Ratio rising 0.86% to 51.84%, its highest level since April of 2021. This ratio measures Bitcoin’s market cap relative to the rest of the crypto market, and its rising means that Bitcoin is outperforming the majority of altcoins. This is generally viewed as healthy for the market because it shows the market isn’t overly frothy, and investors are mostly favoring Bitcoin over the more speculative altcoins. While most altcoins are lagging behind Bitcoin, there are a few standouts. LINK has risen 9.37%, PEPE has risen 8.06%, and BCH has risen 40%.
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