Bitcoin dominance, a measure of Bitcoin's market capitalization relative to the total cryptocurrency market capitalization, reached a high of 52.7% this past week, its highest level in three years since April 2021. 

Starting the week on Monday, June 22, with a BTC dominance of just 48.2%, this figure rapidly increased to 51.9% immediately following the launch of the ETH ETFs on Tuesday before gradually continuing its rise over the week.

This phenomenon occurred despite the main headlines focusing on ETH and its ETFs. A subsequent market-wide dump occurred following the ETH ETF launch, during which BTC was one of the strongest coins to rebound, quickly returning to its pre-ETH ETF highs

In stark contrast, ETH showed considerable weakness in terms of price action. Moreover, …