Crypto week at a glance: Bitcoin's dominance rises; Swiss McD accepts crypto

economictimes.indiatimes.com:

global crypto market has recovered a bit as compared to the past week. Bitcoin has failed to hold above $20,000 level the previous week due to lack of buying activity but has traded above its psychological support this week in line with equities. It seems like the market participants are on their risk appetite to start a new quarter. Bitcoin has traded sideways most of the week as investors return to more macroeconomic cautiousness. Even though Bitcoin successfully traded above $20,000, it struggled to move above it. Its dominance in the market, however, increased to 41 per cent from 39 per cent on September 10, 2022. This indicates that the market participants are choosing Bitcoin over other assets for its comparatively stable nature.The whale accumulation and the US dollar index rising to a 20-year high are the reasons for BTC’s growth in the past few days.

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The second largest cryptocurrency, Ethereum, has been changing hands above the $1,300 level. Ethereum has been experiencing the heat of macroeconomic factors post the Merge. If Ethereum can close the week by trading above the $1,400 level, we might see an upward trend in the coming week. On Friday, Bitcoin dropped below the $20,000 level as markets are preparing for the release of the latest US non-farm payroll report. Bitcoin slipped as bearish sentiment returned to markets. Ethereum continued to consolidate ahead of the release. While other major