Bitcoin Dominance Climbs to 60.05% on Altcoin Selloff

Bitcoin's share of total crypto market value rose to 60.05%, the highest level in about a month, as traders leaned into BTC while the broader market weakened. Major altcoins fell more sharply than Bitcoin, with Ethereum, XRP and Solana among the largest decliners. Bitcoin dominance had recently eased toward the 59% range before pushing back up to 60.05%. The move indicates BTC is taking a bigger slice of overall crypto capitalization even as it faces its own selling pressure. On Thursday, Bitcoin traded around $81,000 after briefly dipping below $81,000 during the session. The rotation toward Bitcoin is typical when investors cut exposure to higher-beta tokens and prioritize the largest, most liquid asset. The divergence was visible across top altcoins: Ethereum slid toward $2,400, XRP hovered near $1.35, and Solana retreated toward $108, while Bitcoin posted a smaller percentage decline. Market data showed BTC outperforming several of the biggest cryptocurrencies by market cap. Derivatives markets added to the downside momentum. Nearly $1 billion in crypto positions were liquidated over the past 24 hours, driven largely by forced closures of long positions. Ethereum posted the biggest liquidation total among major assets, followed by Bitcoin. Liquidations can accelerate price moves as leveraged positions are automatically closed when collateral thresholds are breached. Macro conditions also weighed on risk assets. Brent crude climbed above $105 a barrel and the U.S. 10-year Treasury yield moved above 5.3%. Higher energy prices can revive inflation concerns, while elevated yields make traditional fixed-income more competitive, often curbing demand for volatile investments such as cryptocurrencies. Geopolitical tensions in the Middle East added uncertainty, including reports tied to possible military action and risks to energy supply. The U.S. dollar remained firm as well, creating an additional headwind for risk-sensitive assets. Even so, rising Bitcoin dominance does not necessarily imply a long-term rejection of altcoins. Bitcoin remains the sector's primary liquidity anchor, and stronger dominance can reflect a temporary preference for the most established digital asset during periods of stress.