Bitcoin Dominance Reaches 9-Month High

Bitcoin’s dominance has also strengthened while stablecoin unrest has surfaced over the last few weeks, with the world’s second largest stablecoin USDC, depegging from the dollar following the collapse of Silicon Valley Bank. USDC has more recently regained its peg, but uncertainty about stablecoins’ path forward remains, particularly as regulators have increased their scrutiny of this asset.