Bitcoin Controls 59.5% of the Crypto Market. Is Altcoin Season Still Possible?

Quick Read

• Bitcoin’s 59.5% crypto market dominance reflects altcoins falling far faster, with Ethereum down 12.5% and Solana down 14.5% last month.

• Galaxy Digital’s Alex Thorn says the bear market ended in June and Bitcoin’s 24.5% rise over 90 days signals a new cycle.

• Bitcoin spot ETFs attracted $176 million on October 27 while Solana ETF net assets dropped from $1.94 billion to $1.54 billion.

• Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Galaxy Digital didn’t make the cut. Enter your email to see the names that beat GLXY. The report is free. Enter your email and see if any of your stocks made the cut.

Bitcoin (CRYPTO: BTC) accounts for a significant 59.5% of the crypto market. This percentage, known as Bitcoin dominance, shows how much of the $2.72 trillion crypto market Bitcoin controls. Traders and altcoin investors monitor this figure closely to gauge when it might be their turn to shine.

While Bitcoin has also dipped, currently priced at $80,566—down 3.0% over the past 30 days—its dominant share is driven by even steeper declines in altcoins. In the same timeframe, Ethereum (CRYPTO: ETH) fell 12.5%, Solana (CRYPTO: SOL) dropped 14.5%, and XRP (CRYPTO: XRP) fell 11.9%.

A senior researcher at Galaxy Digital (NASDAQ: GLXY) said the bear market is now behind us. This raises the question: Have altcoin sell-offs reached their limit, setting the stage for a potential recovery, or is Bitcoin still the preferred asset?

What Is Bitcoin Dominance and Why Do Traders Watch It?

Bitcoin dominance is calculated by dividing Bitcoin’s market cap by the total market cap of all cryptocurrencies. Market cap is calculated by multiplying a coin’s price by its circulating supply. Currently, Bitcoin’s market cap is at $1.62 trillion, while Ethereum accounts for 10.5% of this total.

Why Didn’t GLXY Make The Top 10 List?

24/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about. The ten best stocks to buy right now.

And GLXY didn’t make the cut!

The report is free, and you can see why we think each stock is a top investment today.

Traders often use Bitcoin dominance as a sentiment indicator. When dominance rises, it typically signals that money is flowing into Bitcoin, viewed as a safer option (risk-off trend). Conversely, when dominance drops, it indicates a shift toward smaller, riskier altcoins. Traders call a prolonged decline in Bitcoin dominance “altcoin season,” a period when many altcoins outperform Bitcoin.

Source: finance.yahoo.com