Bitcoin's market dominance surged to 52.92% over the weekend, setting a new high since April 2021. The increase was primarily driven by the approval of spot ETFs, although the overall market was volatile. Bitcoin's market dominance has remained between 44% and 53% over the past year. However, the recent news that the Federal Reserve is expecting only one rate cut in 2024 has sent Bitcoin down 5.3% over the past week. In contrast, many small cap tokens such as FLOKI, STRK, IMX, and 0021 have fallen by double digits over the past seven days. Despite this, Bitcoin is seen as a less risky asset due to its high regulatory acceptance and institutional adoption. Bitcoin's dominance has started to wane as the market rallies.