In today's Crypto Report we take a look at the wider cryptocurrency landscape, and how Bitcoin is solidifying its market dominance, outpacing second largest cryptocurrency, Ethereum.
Amidst legal challenges faced by Ripple and FTX's founder Sam Bankman-Fried, Bitcoin's grip on the market strengthens, consistently gaining against the US dollar.
However, it's yet to break past the pivotal 200-day moving average. Ethereum, meanwhile, faces potential back-to-back losses, struggling to keep pace this month.
Ripple's XRP briefly surged, thanks to a legal win against the US Securities and Exchange Commission, but this momentum was short-lived. Among altcoins, Solana emerges as the week's star, while Binance's BNB and Dogecoin lag behind.
As the global cryptocurrency market cap inches up by 0.6%, traders remain watchful, influenced by the US Federal Reserve's decisions. Stay updated in this fast-paced crypto world, where market shifts are the only constant.