Airdrop Army

Bitcoin’s grip on the crypto-verse is tightening. October 15 saw BTC dominate the market with a fierce 58.77% share, a high not seen since back in 2021. Price action hit $67,800 for a brief minute before pulling back, leaving altcoins staring into the abyss. Ain’t no alts rallying while BTC flexes like this. The market cap? $1.32 trillion and climbing, while altcoins limp along, mostly down or flatlining.

BTC’s Dominance Smashes Altcoin Dreams

When Bitcoin gets this much juice, altcoins get left in the shadows. So far, BTC’s pumped a solid 2.5% on the day, while Solana, XRP, and the rest of the usual suspects can’t catch a break. Historically speaking, when Bitcoin dominance cranks up, altcoins take a big hit ’cause everyone’s piling into the big dog. Liquidity bleeds from alt pairs into BTC pairs, and there ain’t enough left to go around for the smaller cap coins.

Some crypto OGs ain’t buying the hype though. Benjamin Cowen, founder of ICT Crypto, thinks Bitcoin’s party at the top is about to get busted. He tweeted, “Bitcoin dominance gonna top out at 60% and break down.” His angle? This is the setup for the so-called ‘alt season,’ when those sidelined tokens make their move. Coach K Crypto, a trader with 129,000 X followers, chimed in, saying Bitcoin’s gotta “rip” before the alts can even blink.

Ether Playing Second Fiddle, Again

But here’s the kicker—Ether usually leads the charge when Bitcoin dominance fades, right? Not this time. The ETH/BTC ratio’s stuck below 0.039, scraping lows not seen since April 2021. And still, no sign of life from ETH, even as traders start howling for alt season. Maybe it’s too early, or maybe BTC’s just hogging all the attention for now.

Even so, institutions ain’t sweating it. October 15 saw $371 million flood into those shiny new U.S. spot BTC ETFs. Farside Investors says $1.1 billion hit the books in just three days. So, as BTC rockets, the smart money keeps rolling in, leaving altcoin believers waiting for their break.