Crypto markets are showing a notable shift, with major altcoins recording solid gains. Bitcoin’s share of the overall market has weakened and is now nearing 59%. Capital rotation toward higher-beta assets has followed, renewing discussion around a potential altcoin-led phase.
Recent sessions indicate a gradual easing of Bitcoin’s dominance across the crypto market. After remaining near 60% for much of the year, that level is now close to slipping lower. Price stability has held, but relative performance continues to lag several large-cap tokens.
Bitcoin (BTC) is trading near $89,644, up approximately 1.7% over the past 24 hours. Momentum remains subdued despite the advance. Market sentiment stays bearish, with the Fear and Greed Index at 29. BTC is also trading below its 200-day simple moving average and is down roughly 7% year over year.
By contrast, altcoins have posted broad gains across the market:
Ethereum, in particular, has begun to show renewed momentum after an extended period of underperformance. ETH has closed higher on 17 of the past 30 days, accounting for about 57% of the period. Price action is now holding above key support levels, supporting improved short-term trader sentiment.
Earlier in 2025, Bitcoin dominance remained at historically elevated levels. Later in the year, capital flows shifted toward altcoins as interest in Ethereum-focused treasury strategies grew. That move was followed by a pullback as attention around those firms intensified.
Several publicly listed companies accelerated ETH accumulation during the third quarter, outpacing Bitcoin purchases. This activity temporarily increased the ETH/BTC ratio. While it remains uncertain whether these trends will develop into a sustained altcoin cycle, recent price action suggests traders are increasingly positioning beyond Bitcoin.
