Bitcoin's dominance rate has been steadily increasing since the beginning of the year, now sitting at 46.8%. This could be a sign that institutional investors are slowly entering the market, driving prices up. With the global economy showing signs of slowing, it's likely that investors will continue to flock to the safe-haven asset.

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Indeed, Bitcoin's growing dominance does suggest institutional interest aligning with its safe-haven status. As economic uncertainties persist, this trend may well continue to support Bitcoin's price.