Bitcoin’s dominance of the crypto market has been on the rise. This naturally comes with every downtrend in the market because although bitcoin takes a hit, the altcoins always record the worse losses, leaving them with less dominance of the market. Bitcoin’s dominance has however not stopped here. It has now spilled onto the derivatives market where the dominance of the pioneer cryptocurrency is even more apparent.
Bitcoin Open Interest Surges
The general open interest in the crypto market has been on a decline since the market took a hit in December. This is currently sitting at about $25 billion for the total market, down almost 50% from its peak in November at around $48 billion. This mirrors what has taken place in the crypto market over the same time period. However, when it comes to open interest, bitcoin has not fared as badly as the others.
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The digital asset now accou ..
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