At the time of writing, it was trading around $59,000. The global crypto market capitalization stands at $2.1 trillion, marking a 1.97% decline over the past 24 hours.
Bitcoin (BTC), the world’s leading cryptocurrency, dipped below the $60,000 mark after a brief rally, hitting an intra-day low of $58,730.
Bitcoin’s open interest surged to $365 million ahead of the November 4 U.S. presidential election, signalling significant speculation on its impact on the digital asset’s future performance.
Bitcoin’s market dominance has surged from 38.7% in November 2022 to 56.2% in August 2024, reflecting a growing preference among investors for Bitcoin as a safer investment during uncertain times.