Bitcoin dominance falls as US interest rates are cut... a positive factor for the virtual asset market

The US interest rate cut will have an impact on Bitcoin dominance, which is the market power of Bitcoin, and this will be a "positive factor" for the cryptocurrency market.
According to CoinDesk, asset management company SwissOne Capital said in relation to this that "Bitcoin dominance is positively correlated with U.S. interest rates" and that "Recently,
"The Federal Reserve's interest rate cut cycle could halt the upward trend in Bitcoin dominance and lead to an upswing in the overall crypto asset market," he said.
He also said, "Bitcoin dominance rose to over 70% in the past, but began to decline in the second half of 2019," and "will decline by the end of 2021."
"This led to a surge in demand for altcoins other than Bitcoin," he added.
He also said, "Bitcoin's dominance has increased over the past two years, but it is still far from its previous peak (73%)." "This is due to the rapid increase in stablecoin supply.
Currently, the total market capitalization of stablecoins is $172 billion, accounting for 10% of the total virtual asset market,” he added.