Bitcoin Market Dominance Drops 5.66% Amid Overall Cryptocurrency Market Growth

Market data from July 21 reveals a notable shift in the cryptocurrency landscape, with Bitcoin’s market dominance (BTC.D) declining by 5.66% over the past week, settling at 60.95%. This contraction in Bitcoin’s share contrasts with the broader market trend, where the overall cryptocurrency market capitalization experienced a 4.35% increase during the same timeframe. Notably, altcoins demonstrated robust performance, as evidenced by a 15.13% surge in the total market capitalization excluding Bitcoin (TOTAL 2), alongside an 11.03% rise in the market cap excluding both Bitcoin and Ethereum (TOTAL 3). These metrics underscore a growing investor appetite for diversified digital assets beyond the leading cryptocurrencies, reflecting a dynamic and evolving market environment.