Bitcoin’s dominance in the crypto market has increased to 61%

Bitcoin BTC $95,412.81 Bitcoin -0.77% Market capitalization $1.89 trillion VOL. 24 hours $1.67 billion is consolidating its position in the crypto market — the flagship virtual coin has reached a dominance level of 60.93%. This is the highest level since November 2024. The increased interest in BTC is triggered by the weakening of altcoins, especially amid the failure of the LIBRA project and falling investor confidence.

At the time of publication, the level of bitcoin dominance dropped to 60.2%, but the total increase for the month was 4.6%. The asset itself is trading at $ 95,422. At the same time, altcoins suffered significant losses — Solana SOL $165.65 Solana -8.89% Market capitalization $80.92 billion VOL. 24 hours $1.07 billion dropped below $ 184, losing 8.7% over the week.

According to TP ICAP analysts, the main driver of bitcoin’s growth was the inflow of institutional capital. Large investors are increasingly viewing BTC as a stable asset amid uncertainty in the altcoin market. Additional pressure was exerted by the scandal surrounding the LIBRA token, which suffered a significant drop after its launch, and its creators were accused of insider trading.

Despite the strengthening of bitcoin’s position, QCP Capital analysts believe that a new impetus is needed to break out of the consolidation phase. Without it, the BTC price movement will remain influenced by macroeconomic factors.

Earlier, CryptoQuant experts announced the possible beginning of a bearish phase in the crypto market. If capital inflows to BTC continue, it may support its position, but the overall market dynamics remain unpredictable.