GM Explorer,

Bitcoin's back in the driver's seat with a 58% dominance surge!

But what does this mean for altcoins? There are many opinions on the matter—stick with us as we dive into the details and explore what’s next!

Here’s what we got for you today:

• 📈 Bitcoin dominance hits multi-year high!

• 💼 Inside BlackRock's crypto strategy!

• 🧱 Around The Block: Grayscale Bitcoin ETF surpasses $20B net outflows.

📈 Bitcoin Dominance Hits Multi-Year High!

Bitcoin’s dominance has skyrocketed to an impressive 58%, marking its highest point since April 2021!

Honestly, it's a remarkable surge that's coming after nearly two years of steady growth.

But here's the thing: it leaves altcoins, especially Ethereum, struggling to survive.

To put that into perspective, Ethereum’s market share has taken a nosedive of 30% over the past year!

But that's not all—it's also fallen below 14% for the first time in over three years!

Bitcoin, on the other hand, continues to rise, cementing its position as the undisputed king of cryptocurrencies.

So, what’s behind Bitcoin’s ascent? Well, analysts are divided on the issue.

Rekt Capital believes that Bitcoin’s recent weekly close above 57.68% could indicate the start of a significant uptrend—possibly just the beginning of a major shift!

However, not everyone is buying into this bullish outlook.

Cryptollica sees something entirely different. He predicts that Bitcoin's dominance might drop as low as 35% by mid-2025, potentially triggering an alt season.

Even Crypto YouTuber Kyle Doops and Steven Cook, Founder and CIO of Dira Capital, are hinting at a possible retreat, citing historical trends.

And they might have a point because history has always had a way of repeating itself.

In 2021, Bitcoin’s dominance shot up to 70% before plummeting to 40% during altseason.

Could we be on the brink of a similar scenario? Well no one knows for sure.🤷‍♀️

But as the crypto market evolves, one thing is for sure: Bitcoin's dominance is a force to be reckoned with. Meanwhile, Ethereum is still struggling to break above $2,300.

So, what's your take on Bitcoin's dominance? Will it continue to reign supreme or will altseason make a comeback?

Check out the full report here!

💼 Inside BlackRock's Crypto Strategy!

Can you believe that BlackRock’s interest in crypto began as early as 2016? Well, it's true!

Robbie Mitchnick, BlackRock’s Head of Digital Assets, revealed that the Firm has been quietly developing its capabilities in the crypto space since then before making bigger public moves.

Why? Because, at the time, the firm didn’t consider the asset class “ready for prime time.”

But things took a sharp turn between 2021 and 2022, driven by maturing infrastructure, growing client interest, and the realization that crypto is here to stay.

Since then, BlackRock's involvement in crypto has grown significantly, especially with the launch of its Bitcoin and Ethereum ETFs.

Education has also played a crucial role in BlackRock’s strategy.

The firm aims to introduce a largely crypto-naive audience to the space and clear up common misconceptions among newcomers, like the belief that Bitcoin is just a "risk-on" asset.

In fact, Mitchnic mentioned that BlackRock will soon release an explainer on risk for its broader client base.

But that’s not all!

Mitchnick also discussed tokenization’s growing appeal, noting that while the idea of “blockchain, not Bitcoin” is fading, “tokenization, not Bitcoin” is gaining traction.

He also says that BlackRock is working on the necessary infrastructure to support tokenization, even though its long-term viability remains uncertain. Check out all he says here.

However, regardless of the future of tokenization, BlackRock’s strategy signals that it’s in crypto for the long haul and will remain a key player in this evolving space.

Don’t you agree?

🧱 Around The Block

• Grayscale Bitcoin ETF surpasses $20B net outflows.

• Early warnings that Trump’s DeFi project would flop.

• Bhutan, a tiny country with a $3B GDP, holds over $780M in Bitcoin.

• Bitcoin rises to the best levels of September in a 6% rally.

• Vanso shows a 80% probability that the price of Ethereum will rise to $3.5k by the end of October.

• SEC charges NanoBit and CoinW6 in alleged 'relationship investment scams' using social media.

• Tether’s market share grows from 55% to 75% in the last 2 years.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.