The price of #Bitcoin (BTC) has remained at virtually the same levels (26K-27K) over the past month - but its market dominance has been on the rise as risks to the rest of the #cryptocurrency sector also increase.

According to industry trade media outlet CoinDesk, Bitcoin's market dominance index, which measures the largest cryptocurrency's share of the total digital asset market, rose to 50.2% on Monday, its highest level in a month and close to 52%, a 26-month high reached at the end of June.

Even if we do a sort of zoom out, to look at it in a broader perspective, the aforementioned indicator oscillated between 39% and 49% for more than two years, before reaching that 52% in June. when asset manager BlackRock filed an application for a BTC spot exchange-traded fund (ETF), raising hopes of triggering massive inflows into the asset.

Markus Thielen, head of research at cryptocurrency services provider Matrixport, told CoinDeskTV on Monday that #BTC enjoys more "potential buying pressure" from ETF listings, while alternative cryptocurrencies - altcoins - would be on the verge of breaking lower. The researcher pointed to token sales from bankrupt exchange FTX, declining revenues from the Ethereum protocol and upcoming token unlocks -