Bitcoin's dominance rate has been declining steadily over the past few months, currently sitting at 46.1%. This could be a sign of increased diversification among investors, with altcoins like Ethereum and Binance Coin gaining traction. Meanwhile, institutional investors are pouring into the crypto space, driving up demand and potentially paving the way for further growth.

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This decline in Bitcoin's dominance rate could be a sign of a more mature market, with institutions and individual investors seeking out alternative opportunities.