Bitcoin Outperforms Entire Crypto Market as Ether and DeFi Tokens Fluctuate

According to CoinDesk: Despite a turbulent start to the day, Bitcoin (BTC) managed to outshine the rest of the crypto market as ether (ETH) and decentralized finance (DeFi) tokens showcased volatility on Tuesday.Bitcoin, as the largest digital asset in terms of market capitalization, temporarily dropped to $28,100 before recovering to nearly $28,500, reflecting a slight uptick over the past 24 hours. In contrast, Ether experienced a 1.8% drop to approximately $1,560—it's lowest relative price to BTC in years. The CoinDesk Market Index, a broader measure of the digital asset market, similarly declined by 0.6%.The CoinDesk DeFi Index (DCF) faced the most significant struggles during Tuesday's market, declining by 3.7%. This downturn was a result of UniSwap's native token (UNI) plummeting nearly 7% after UniSwap Labs announced a 0.15% fee on some trades via its frontend starting Tuesday. Furthermore, the Sui blockchain's native token (SUI) saw a steep 7.6% drop following allegations of token supply manipulation through staking by the Sui team.Despite these market fluctuations, Bitcoin's performance has pushed its market dominance rate to over 52%, the highest since April 2021. Investment advisory firm ByteTree suggests this dominance could rise, especially with anticipation for the approval of a spot BTC exchange-traded fund and the upcoming 'halving' event next year, generally bullish indicators for Bitcoin's worth.