60% was reached this time by falling, not rising.
Bitcoin’s market share is back at 60.05%, its highest in nearly a month. But don’t be fooled by the number: $BTC is also falling. In the sharp sell-off on October 8, Bitcoin fell about 3.3% in 24 hours, while Ethereum ($ETH ) dropped more than 6% and XRP fell 7.4%—altcoins took a much bigger hit. That 60% was driven by “falling less,” a defensive rotation into Bitcoin, not an aggressive expansion.
That also explains why people disagree about what the number means right now. One interpretation is risk-on: $USDT’s share falling to 6.3% suggests that capital is leaving cash to buy crypto. But the October 8 script was exactly the opposite—as soon as volatility hits, altcoins are always the first to get cut, while Bitcoin is simply the least painful option. A record market share and weakening prices can happen at the same time. That proves it.
The real focus today is September’s CPI release at 20:30 Beijing time tonight. Two possible scenarios: 1) Inflation comes in hotter than expected → rate-hike bets rise → capital continues to concentrate in Bitcoin, and 60% is just halftime; 2) Inflation cools → real yields fall → altcoins catch their breath, and Bitcoin dominance retreats toward 59%.
Over the past month, dominance fell to 59% before rebounding by more than one percentage point. That shows 60% is now a level bulls and bears are repeatedly contesting, not a one-way trend. The direction of dominance in the four hours after tonight’s CPI release will tell you more about what capital is doing than prices themselves.
#BTCDominanceBackAt60%
#BTC #CPI
This is not investment advice. DYOR. Trading involves risk.
Bitcoin’s market share is back at 60.05%, its highest in nearly a month. But don’t be fooled by the number: $BTC is also falling. In the sharp sell-off on October 8, Bitcoin fell about 3.3% in 24 hours, while Ethereum ($ETH ) dropped more than 6% and XRP fell 7.4%—altcoins took a much bigger hit. That 60% was driven by “falling less,” a defensive rotation into Bitcoin, not an aggressive expansion.
That also explains why people disagree about what the number means right now. One interpretation is risk-on: $USDT’s share falling to 6.3% suggests that capital is leaving cash to buy crypto. But the October 8 script was exactly the opposite—as soon as volatility hits, altcoins are always the first to get cut, while Bitcoin is simply the least painful option. A record market share and weakening prices can happen at the same time. That proves it.
The real focus today is September’s CPI release at 20:30 Beijing time tonight. Two possible scenarios: 1) Inflation comes in hotter than expected → rate-hike bets rise → capital continues to concentrate in Bitcoin, and 60% is just halftime; 2) Inflation cools → real yields fall → altcoins catch their breath, and Bitcoin dominance retreats toward 59%.
Over the past month, dominance fell to 59% before rebounding by more than one percentage point. That shows 60% is now a level bulls and bears are repeatedly contesting, not a one-way trend. The direction of dominance in the four hours after tonight’s CPI release will tell you more about what capital is doing than prices themselves.
#BTCDominanceBackAt60%
#BTC #CPI
This is not investment advice. DYOR. Trading involves risk.