Bitcoin Still Reigns, Other Cryptos Lag: What Does the Latest Data Say?

Bitcoin Still Reigns, Other Cryptos Lag: What Does the Latest Data Say?

Over the past three months, most cryptocurrencies have fallen, lagging behind market leader Bitcoin. While Bitcoin has fallen by about 26%, according to analytics platform Glassnode, it has still outperformed most other sectors and tokens in the crypto world.

Bitcoin Wins Despite the Drop

Although its price has fallen from all-time highs, Bitcoin still holds firm as the most stable digital currency. It is currently trading around $86,000, which is slightly less than three months ago, when it was around $116,000. In contrast, the total market capitalization of cryptocurrencies has fallen by 27.5% over the same period.

Other sectors are falling harder

On the other hand, most other categories have seen more significant declines. Ether, the largest altcoin, has fallen by 36%, which is about ten percentage points more than Bitcoin. AI tokens fell 48%, memecoins fell 56%, and tokenization of real assets fell 46%. Even the decentralized finance (DeFi) sector saw a 38% decline.

Market Seeks Certainty

Despite this general decline, Bitcoin still holds its position as a “safe haven” for investors. Nick Ruck, Director of LVRG Research, said that data over the past three months clearly shows that capital continues to be concentrated in Bitcoin, reflecting its status as a stable and trusted asset in an uncertain environment.

Dominance Dynamics and Future Outlook

According to institutional platform Bitcoin Vector, the first half of the year was dominated by Bitcoin, but its dominance declined in the second half, opening the way for a rotation towards Ether. However, BTC has not yet regained full leadership, and its market is still searching for a clear anchor after recent attempts at recovery.

Summary

Despite falling from all-time highs, Bitcoin remains the dominant player in the cryptocurrency market. Other sectors are lagging behind, as evidenced by recent data showing that capital is increasingly drawn to the largest cryptocurrency. And while the market looks for new directions, Bitcoin maintains its position as a “stable anchor” in uncertain times.

*This is not an investment recommendation.

The Coingarage Team