BTC’s market share rises to 59% while ether and solana fail to break critical technical resistance, signaling investor caution.
Bitcoin rose 2.4% to $62,800, extending its dominance to 59% from 57.9% last week. The gain reflects renewed capital inflows into the largest cryptocurrency as major altcoins struggle below key technical levels, including their 200-week moving averages.
Ether and solana remain below critical resistance, contrasting with bitcoin’s ability to hold above its 200-week average. The CoinDesk 20 Index gained 2.3%, while memecoins led broader market advances with a 2.7% rise.
Derivatives data show muted leverage and steady implied volatility, with traders hedging via puts rather than betting on a volatility spike ahead of SpaceX’s expected IPO.