Bitcoin dominance hits 60% as altcoins slide and ETF flows stay volatile
Bitcoin's share of the total cryptocurrency market value reached 60% on Wednesday, its highest level since May, and remained near that level as prices across the wider market weakened. The dominance rate measures bitcoin's contribution to the aggregate value of digital assets, and its rise points to a renewed preference for the largest token over alternative coins.
The shift comes amid muted price action. Bitcoin slipped below $82,000 on Thursday, reversing a brief push above $84,000 the previous day, according to CoinDesk pricing. On a seven-day basis, bitcoin, ether, XRP and solana were largely little changed to positive, with zcash the only major coin to advance more than 10%. Smaller tokens fared worse: the CoinDesk Memecoin Index fell more than 5%, the CoinDesk Computing Select Index dropped 3.5% and the DeFi Select Index lost 2.5%.
Joel Kruger, a market strategist at LMAX Group, said in an email that the earlier period of crypto outperformance had given way to closer alignment with equities as investors wait for a fresh catalyst within the sector. He added that the global macroeconomic situation remains the dominant influence, and that bitcoin's scarcity could help it withstand potential jitters in global equity markets.
Vikram Subburaj, chief executive of India-based exchange Giottus, cautioned against chasing bitcoin rallies, noting that exchange-traded funds still lack a consistent bid. "Flows remain volatile, and sustained inflows are needed to confirm a stronger recovery," he said in an email, advising staggered entries, measured position sizes and attention to ETF flows and Federal Reserve signals before increasing exposure. The Fed meets on interest-rate policy next week.
Separately, analysis cited in the source material said diversified real-world-asset stablecoins are sustaining yields of 5-7% from real credit as crypto funding compresses to around 4%, with the GENIUS framework pushing yield off-chain and the addressable market growing to $4 billion over three years.
