Bitcoin Outperforms as Ethereum and DeFi Tokens Slump

Bitcoin (BTC) outperformed other cryptocurrencies as Ethereum (ETH) and DeFi tokens declined.

BTC rose slightly to near $28,500 while ETH dropped to a 15-month low relative to BTC.

The CoinDesk DeFi Index fell 3.7%, led by a nearly 7% drop in Uniswap's UNI token.

Sui blockchain's token plummeted 7.6% amid concerns over token supply manipulation.

Bitcoin's market dominance rose to its highest level since April 2021, which analysts say could continue rising.