Bitcoin Dominance Climbs to 60.98%, Highest Since May

Bitcoin Dominance Pushes Against 61%

Bitcoin's share of the total cryptocurrency market climbed to 60.98% on Thursday, its highest reading since May 2026, against a 60.5% ceiling that has rejected three separate rallies since August 2025. The gain came at altcoins' expense: while Bitcoin (BTC) itself slipped roughly 2% on Wednesday, dominance still rose, which in market math means every other asset fell harder. That asymmetry was trader cyrilXBT's Wednesday post on X, and it frames the stakes now: a sustained weekly close above 61% would extend altcoin underperformance, while a rejection and a drop back under 60% would open room for recovery across the smaller caps. Until one of those resolves, the market keeps favoring Bitcoin even when Bitcoin is the one falling.

@cyrilXBT · X post

Trader cyrilXBT's Wednesday post.

View on X

The chart structure behind the move has changed. The weekly Supertrend indicator flipped bullish for the first time since February 2025, and dominance has broken out of a months-long triangle pattern. A weekly close above 61% would reinforce that signal and set a path toward 62%. The daily timeframe carries a caveat: the metric has reached the top of its rising channel, the zone where earlier advances this year stalled. A rejection there would pull dominance back toward 60%, giving altcoins a temporary pause rather than a trend change. About two percentage points of market share separate those outcomes.

Solana and Hyperliquid Extend Losses

The damage in individual names runs deeper. Solana changes hands at $83.66, back where its August rally started, after shedding more than 30% from the $125 area it held in September; a routine correction for a volatile asset runs near 10%, and this one is triple that. Solana slipped under its 200-day moving average at the end of October. The next support sits at $80, above a $72-$78 band where the token spent all of July; a volume spike on November 10 points to unfinished selling. Hyperliquid lost about 14% over the week despite listings on South Korean exchanges on November 10 and active buybacks, leaving the token pinned between $70 and $73. An October 29 announcement of US Hyperliquid-based futures briefly lifted it to $97, and the 200 EMA near $68 is the next support.

Gram Rallies While ETF Outflows Mount

Gram is the session's outlier. The token jumped 24% in three days to $1.244 after briefly dropping below $1 on November 9, and the most recent daily candle added another 9%. The move follows Telegram wallet updates and deeper blockchain integration inside the messenger: Pavel Durov said users created more than 700,000 Gram wallets in the last 48 hours. Resistance is steep at $1.25, the October-November trailing zone, with $1.34 and $1.46 stacked above; a September spike toward $1.73 failed to hold. Bitcoin (BTC), by contrast, is bleeding funds: spot Bitcoin ETFs have lost roughly $1.6 billion since the start of November, and Bloomberg's Eric Balchunas noted the period's largest inflows went to stock funds, a rotation away from digital assets. Bitcoin traded at $73,535 early on Thursday, about 16% below its September peak, and sits near $73,800 now.

Santiment Reads Fear at Boiling Point

Santiment's November 10 sentiment data adds a contrarian twist: bearish comments outnumbered bullish ones across Bitcoin, Ethereum and XRP, at ratios of 0.82:1, 0.88:1 and 0.49:1, with XRP near $1.05 the weakest of the three. The firm described retail panic as approaching a boiling point and reads fear this lopsided, the kind that marks a bear market trough, as the condition under which strong rebounds in major coins have historically formed. Derivatives data shows about $356 million in liquidations over the 24 hours to mid-morning November 10, roughly $280 million from longs. Bitfinex analysts flagged $75,900 to $77,500 as a likely supply zone and expect Bitcoin (BTC) to trade inside the $72,350 to $79,400 band that implied volatility maps out ahead of the November 13 option expiry, with activity concentrated at the lower end.

@SantimentData · X post

Santiment's November 10 sentiment data.

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Between 61% and the Supply Zone

Read together, the session's two halves point in opposite directions. Momentum says the market still prefers Bitcoin even while Bitcoin itself struggles, the dynamic Bitcoin maximalism has described through every cycle: share concentrates in the dominant asset as risk appetite fades. Sentiment says the counter-trade is getting crowded, with fear at levels that historically precede rebounds. Two numbers resolve it: the weekly dominance close against 61%, and Bitcoin's path through the $75,900 to $77,500 supply zone into Friday's expiry. Capital rotating toward AI equities, the Anthropic IPO and memory-chip demand leaves altcoins without a fresh catalyst to answer with. Between dominance at 60.98% and the 61% line sit 0.02 percentage points of market share; that small distance decides which side of this market spends the next weeks recovering.