Bitcoin Dominance Hits 60% as Crypto Sell-Off Hammers Altcoins

On October 13, TradingView reported Bitcoin dominance (BTC DOM) at approximately 60.4%. Bitcoin had a market capitalization of roughly $1.68 trillion against the global cryptocurrency market worth $2.78 trillion

Other crypto market trackers, including CoinMarketCap and CoinGecko, reported slightly different values. The former indicated BTC DOM at approximately 59.9%, while the latter showed about 58.1%. This gap comes from the fact that different indices include different sets of cryptocurrencies.

How Much Have Altcoins Lost in October 2026?

According to historical closing prices provided by CoinGecko, Bitcoin lost about 4.6% between October 5 and 12. The decline in Ether was nearly double that of BTC, while Dogecoin and Solana posted losses exceeding 13%.

Solana and Dogecoin took the largest hit, while the XRP price also declined by 11%. ETH suffered a decline of nearly 10% and closed below $2,500 as investors dumped riskier assets, including crypto.

Why Altcoins Lose Value Faster Than Bitcoin

Factors that contribute to the bearish pressure on altcoins explain why the cryptocurrency‘s dominance has been rising. According to experts, part of the problem is that Treasury bonds have become a more attractive investment option as yields have risen to around 5.24% on the 10-year U.S. Treasury note on October 9.

Another factor is that the U.S. dollar has gained against several major currencies as of early October 2026. Both these developments depress the crypto market, luring investors away from high-growth/high-risk digital assets toward safer options. Notably, Bitcoin tends to be less volatile and thus more attractive to conservative investors.

The September CPI report, scheduled for release on October 14, is likely to further dampen market sentiment, promoting even stronger Bitcoin dominance.

Read More: Bitcoin and Ethereum ETFs Reverse Course With $1.22 Billion in Weekly Outflows

Liquidations and ETF Outflows Deepen the Sell-Off

While traders and investors continue to speculate on macroeconomic trends, it appears that the liquidation of leveraged positions is also fueling the altcoin sell-off, alongside a drying up of demand for exposure to cryptocurrencies. According to CoinGlass, about $815 million worth of crypto positions were liquidated on October 12, of which about $689 million belonged to longs.

Altcoins appear to be particularly vulnerable to this form of pressure as their aggregated value is significantly lower than that of Bitcoin, and, as a result, there is also lower liquidity. The damage caused by large sellers is therefore more significant for smaller-cap cryptocurrencies.

Yet another reason why Bitcoin dominance increased in October 2026 is the reduced institutional demand for cryptocurrencies. For instance, on October 5-9, U.S. spot Bitcoin ETFs had about $678.9 million in net outflows, according to Farside Investors.

Ethereum ETFs suffered another $542.2 million in withdrawals, with total weekly redemptions amounting to $1.22 billion as of October 9. On October 12, Bitcoin ETFs recorded another $65.4 million in net outflows, while Ethereum products lost $85.4 million

Does Increasing Bitcoin Dominance Chart Imply More BTC Buying?

While rising Bitcoin dominance hints that investors might be rotating into Bitcoin from other cryptocurrencies, it does not necessarily imply this is the case. If altcoins lost 15%, while BTC only lost 5%, it would increase Bitcoin dominance as well.

This explanation also applies to the situation involving altcoins and Bitcoin in early October 2026. Bitcoin has lost value alongside other cryptocurrencies, but its dominance in the crypto market has risen because its losses are smaller than those of its competitors.

Depending on the cryptocurrency tracking, stablecoins can influence the value of Bitcoin. According to some crypto fund managers and analysts, the amount of stablecoins in circulation increased substantially in early October 2026 as traders sought to park their cash in a low-risk, easily accessible instrument.

What Does 60% Bitcoin Dominance Say About “Altcoin Season”?

With Bitcoin dominance on the rise, some investors and analysts have questioned whether the conditions for “altcoin season” still exist. This situation is unlikely to occur as long as the value of Bitcoin continues to climb, albeit slowly, compared to the beginning of the year.

Nevertheless, analysts at CoinMarketCap believe that altcoins still have a chance to rally. Their Altcoin Season Index (ASI) stands at around 58 as of the middle of October. The ASI analyzes how many of the 100 largest cryptocurrencies (excluding stablecoins and tokens representing crypto funds) have outperformed bitcoin in the last 90 days.

This observation suggests that the weakness of altcoins in early October 2026 does not offset all of their gains at the beginning of the year. Several cryptos have had a total return-on-investment (ROI) exceeding that of Bitcoin in the last three months, despite the losses recorded in the last week.

Read More: Why Are Ethereum and XRP Prices Falling While ETF Investors Treat Them Differently?

Altcoin Season Ahead: Can Other Cryptocurrencies Rise?

Even if Bitcoin accounts for about 60% of the crypto market, altcoins‘ performance can still improve. For that, smaller coins need to appreciate in value at a similar rate to that of Bitcoin.

What some investors refer to as “altcoin season” typically involves a rise in the value of ether and smaller-cap cryptocurrencies, such as those in the top 100. For this to happen, investors would need to become more confident that the overall crypto market will rise.

This development would most likely be the result of easing macroeconomic conditions. The combination of falling Treasury yields and the reduction in the redemptions of cryptocurrency ETFs would most likely improve the situation for altcoin investors.

The ETH price is likely to be a key factor in determining the outlook for the altcoins season, as it represents about 11% of the market. Ether growing faster than Bitcoin would indicate that investors have begun to rotate back into crypto assets, including altcoins.

Bitcoin Dominance Outlook: Can BTC March On?

Bitcoin dominance is now hovering around 60%. If the metric continues to climb, this would further hurt the relative performance of altcoins.

• Bitcoin dominance above 61%: BTC increases its share of the crypto market further, outperforming other tokens
• Dominance between 59% and 61%: Altcoins and Bitcoin rise at a similar pace, causing Bitcoin‘s dominance to remain stable
• Dominance below 59%: Altcoins outperform Bitcoin, potentially heralding the beginning of altcoin season.

The level of Bitcoin dominance is also relevant in the context of the price of the cryptocurrency itself. Should its value continue to decline, this would indicate that the crypto market is experiencing overall weakness. In this environment, the rotation from altcoins into Bitcoin would only be a short-term anomaly.

What is Next for Bitcoin and Altcoins?

Bitcoin dominance has increased as altcoins continued to experience losses. On a daily basis, the value of Ethereum has dropped below $2,500, Solana toward $100. XRP has approached $1.3, while Bitcoin performed relatively strong in the bearish trend.

Market watchers will be closely following developments in U.S. inflation, Treasury yields, and the possibility of further redemptions of crypto ETF shares. Should these factors continue to deteriorate, bitcoin dominance is likely to rise further, which may not be positive for the price of Bitcoin itself.