Crypto News: Bitcoin Dominance Reaches 60%, the Highest Since May, as Altcoins Slide

• Bitcoin’s dominance rate, its share of total crypto market value, reached 60% on Wednesday and remains near that level. It’s the highest since May.

• Bitcoin slipped below $82,000 on Thursday, reversing Wednesday’s brief push above $84,000.

• Over seven days, BTC and most major tokens were little changed to positive. Zcash (ZEC) was the only major coin to advance more than 10%.

• The CoinDesk Memecoin Index fell more than 5%, the Computing Select Index dropped 3.5% and the DeFi Select Index lost 2.5%.

• Chinese prosecutors moved to seize more than 61,800 bitcoin linked to a fraud case worth roughly $5.7 billion.

• The Federal Reserve is set to meet on interest-rate policy next week.

Bitcoin’s share of the crypto market has climbed to the highest level since May, even as prices across the wider market weaken, according to CoinDesk. Its dominance rate reached 60% on Wednesday and remains near that level.

This crypto news comes as bitcoin slipped below $82,000 on Thursday.

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Crypto Market Data: Dominance and Index Moves

Key figures:

• Bitcoin dominance: 60% (highest since May)

• Bitcoin: slipped below $82,000 on Thursday

• Zcash (ZEC), seven days: advanced more than 10%, the only major coin to do so

• CoinDesk Memecoin Index: down more than 5%

• CoinDesk Computing Select Index: down 3.5%

• CoinDesk DeFi Select Index: down 2.5%

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Main News: Bitcoin Dominance Rises as Prices Weaken

The rise in dominance comes amid muted price action. Bitcoin slipped below $82,000 on Thursday, reversing Wednesday’s brief push above $84,000.

On a seven-day basis, BTC and most other major tokens, including ether, XRP and Solana, were largely little changed to positive. Zcash was the only major coin to advance more than 10%.

Smaller Token Indexes Decline

Smaller tokens have seen bigger declines:

• Memecoins: the CoinDesk Memecoin Index fell more than 5%

• Computing: the CoinDesk Computing Select Index dropped 3.5%

• DeFi: the DeFi Select Index lost 2.5%

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What’s Trending

• Asian stocks: equities slumped as technology shares sank and rising oil prices compounded investor concerns, and bitcoin retreated as China entered a bear market, according to CoinDesk.

• China and bitcoin: Chinese prosecutors moved to seize more than 61,800 bitcoin linked to a fraud case worth roughly $5.7 billion. It came days after a U.K. court ruled that Chinese law governs victims’ claims to the coins.

Crypto Market Snapshot

Prices from the CoinDesk market ticker alongside the report:

• Bitcoin (BTC): $81,635.92 (-2.12%)

• Ethereum (ETH): $2,399.55 (-2.71%)

• XRP: $1.32 (-2.40%)

• Solana (SOL): $104.24 (-2.48%)

• Hyperliquid (HYPE): $77.92 (-4.19%)

• CoinDesk 20 (CD20): $2,249.93 (-2.42%)

Summary: Crypto News Today

Bitcoin’s dominance reached 60%, the highest since May, as bitcoin slipped below $82,000 and smaller token indexes fell.

• Dominance: 60%, the highest since May

• Bitcoin: below $82,000 on Thursday, after a brief push above $84,000 on Wednesday

• Index declines: memecoins more than 5%, computing 3.5%, DeFi 2.5%

• Stocks: Asian equities slumped as tech shares sank and oil prices rose

• Next: the Federal Reserve meets on interest-rate policy next week

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