Bitcoin Dominance Drops to 57.9% as Altcoin Caps Gain
Bitcoin Dominance (BTC.D) fell by 2.52% in the past week, dropping to 57.9%. This metric highlights the share of Bitcoin in the overall crypto market. At the same time, the total cryptocurrency market cap slipped by 1.05%.
Altcoin market cap excluding Bitcoin (TOTAL2) climbed 2.64%. Market cap excluding both Bitcoin and Ethereum (TOTAL3) rose 0.59%, underlining broad altcoin market cap gains. These figures show stronger performance among alternative tokens. Bitcoin Dominance metrics are widely used to track capital rotation and market breadth.
Institutional interest in Ethereum also rose. Ethereum spot ETF holdings surpassed $30 billion. The divergence between Bitcoin Dominance and altcoin gains may prompt traders to rebalance portfolios. Investors should watch these metrics for trading signals.
Neutral
The slip in Bitcoin dominance alongside altcoin cap gains signals capital rotation rather than a broad bullish trend. While altcoins are attracting more market share, the overall crypto market cap decline tempers optimism. Historically, shifts in Bitcoin Dominance have led to short-term altcoin rallies but often coincide with consolidation phases. In the short term, traders may favor select altcoins; in the long term, without a recovery in total market cap, the market outlook remains neutral.