Capital Flowing into Bitcoin as Dominance Reaches New Heights

The recent rise in Bitcoin's dominance to 28.3% might seem bearish at first glance, but according to Jonathan Brooks of KuCoin, it's actually a sign of capital concentrating into safety.

This phenomenon occurs when investors seek refuge in stable assets like Bitcoin during periods of market uncertainty or volatility.

Once the price of BTC stabilizes above its resistance level, liquidity is likely to rotate back into Layer 1 (L1) protocols.