With a market valuation of almost $520 billion and a current price of $26,690, Bitcoin has reclaimed the limelight. It now accounts for more than half of the entire cryptocurrency market.

This turning point is important because it occurs at a time when many alternative cryptocurrencies are stagnating or declining. It’s worth noting, though, that Bitcoin is still nearly 5% lower than its June high and 23% below than its January 2022 peak, despite the recent uptick.

Looking at the market more broadly, the alpha coin’s market dominance ranged between nearly 40% and 49% for more than two years before it finally reached the 52% level in June, when asset manager BlackRock’s application for a spot BTC exchange-traded fund sparked expectations about releasing significant inflows into the asset …