BTC Dominance Declines Further
BTC’s bounce above $93k faded, with price back near $90k, even as majors outperformed (ETH +0.27%, SOL +1.54% vs BTC -0.14%). Spot flows remain a headwind: BTC ETFs sold $372.8M and ETH $74.2M, while IBIT alone saw $523M out
🪙 BTC heavy, alts a touch firmer
BTC keeps leaning on $90K after a failed bounce, while ETH and SOL are slightly green on the day and BTC dominance has dropped, even as spot BTC and ETH ETFs see ongoing outflows.
📉 Markets cautious, BTC downside still in focus
ETH vol has largely re-flattened, but BTC’s curve stays inverted with short-dated puts richly bid, reflecting more concern about near-term BTC downside than ETH.
🏗️ Infra and product build-out continues
Kraken raised $800M at a $20B valuation, New Hampshire approved a $100M BTC-backed bond, and Fidelity launched a staking-enabled Solana ETF (FSOL) with fees waived until mid-2026.
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Market Snapshot: Overnight Moves
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A modest rebound past $93K yesterday quickly fizzled out, and BTC once more fell to $90K before bouncing off that level. Interestingly, over the past 24 hours, altcoins have shown stronger resilience relative to BTC. ETH is up 0.27% over the same period, SOL is up 1.54%, while BTC trades 0.14% lower.
Additionally, it is interesting that BTC dominance (including stablecoins) has dropped from 59.36% to 55.75% in the past 24 hours. The drop in BTC’s spot price alongside a decline in its market-cap dominance adds some more evidence to altcoins holding up slightly stronger in yesterday’s session.