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The market is currently under stress. On the one hand, the Bitcoin rally has been accomplished. On the other hand, basically all the leading altcoins keep going down. Bitcoin domination has gone beyond 62 percent; this indicator was observed last time in April this year.
Several factors have caused a sharp increase in Bitcoin. First, it is due to the fact that cryptocurrency derivatives are expected to be issued soon. Secondly, it has been reported that China will lift its ban on cryptocurrency sales together with yuan, and two cryptocurrency stock exchanges, OKEx and Huobi Pro, have announced that they could launch this kind of trading in the nearest future.
A speculative factor is to be taken into consideration too: Bitcoin is growing as altcoins are going down and many players are shifting to the growing asset, which results in the continuous growth of Bitcoin. There are also those who were sure Bitcoin would drop and they must close out their short positions now.
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