Bitcoin's dominance in the crypto market has increased as traders move away from meme coins and back to BTC amid market correction and growing fear, uncertainty, and doubt (FUD).
Data shows a decline in social dominance for meme coins, while Bitcoin's social dominance has risen, indicating a shift in sentiment and a preference for the perceived safety of Bitcoin.
Bitcoin's price is currently consolidating, but historical trends suggest a potential rally in December, supported by the belief that the current bull market is in its mid-stage.
Growing interest in Bitcoin as a solution to the US debt crisis, advocated by figures like Michael Saylor and VanEck, contributes to the positive sentiment around Bitcoin.