Traders once again prefer dollars over bitcoin. USDT, USDC dominance rises.
CoinDesk
Traders are shifting capital from bitcoin into dollar-pegged stablecoins like USDT and USDC as market risk aversion increases.Summary
Market data reveals that investors are rotating out of bitcoin and into dollar-pegged stablecoins, as evidenced by a decline in bitcoin's dominance rate and a rise in the market shares of USDT and USDC. This shift, driven by expectations of prolonged high interest rates and broader economic uncertainty, mirrors patterns observed earlier this year before significant market selloffs. Analysts suggest this rotation indicates growing risk aversion among investors, with significant outflows from spot bitcoin ETFs further signaling a move toward profit-taking and safer asset classes.
(Source：CoinDesk)