Analyst: BTC's market capitalization dominates more than 60%, which is unfavorable for most altcoins

Analyst Josh Rager said, “BTC’s market capitalization has risen by 2% in the past few days. Please note that the increase in Bitcoin’s dominance (especially over 60%) is optimistic for BTC holders. But it’s not a good thing for most altcoins.” Rager further explained that he believes that recent restrictions on the operation of Binance’s US operations may lead to more people choosing to sell most of the altcoins and buy the ones offered on Coinbase. Bitcoin, because Coinbase can operate in the United States. Therefore, the sell-off of the altcoin will affect its price decline, while increasing the demand for bitcoin, thereby increasing its price.