Bitcoin is experiencing significant market challenges yet is perceived to be resilient, narrowly avoiding a substantial decline below its March lows. Despite a year-exceeding growth of 30%, its correlation with the Nasdaq indicates a troubling trend, remaining historically high. Recent downtrends suggest further price declines may occur, with some analysts noting less panic among bitcoin holders compared to previous market crashes. This muted response is attributed to institutional accumulation, as some perceive Bitcoin as increasingly essential for balanced portfolios amid inflation and recession fears. There are also pockets of strength, with certain altcoins performing better than larger assets, influencing Bitcoin's market dominance, which has surged back to around 65%. Meanwhile, XRP's market behavior continues to spark debate, with some seeing potential for significant valuation growth, although many remain skeptical of its current price relations. Overall, amid this mixed backdrop, Bitcoin's status flickers as a near-safe haven in the volatile market landscape.

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