The Block’s GMCI 30 
GM30
-4.68%
Index has recovered about 6% from yesterday’s low point, which saw a speedy selloff following the news of the attack, which Israel said it thwarted.
Following the recovery, according to The Block’s data dashboard, Bitcoin now commands nearly 53% of the crypto market, the most since early April 2021 and more than every other cryptocurrency combined.
Surveying the one-day performance of the top 20 cryptocurrencies by market cap shows that Bitcoin had one of the strongest recoveries from yesterday’s selloff, corresponding to its increase in dominance, though it still lost value like nearly other token in the top 20.
Bitcoin’s appeal as an inflation hedge has been increasing due to its upcoming halving event and uncertain macroeconomic headwinds, The Block previously reported. Bitcoin’s halving is just five days away, according to The Block’s tracker.
