Investors Shift Toward Bitcoin as Crypto Selloff Pressures Altcoins
Bitcoin represented 60.05% of the cryptocurrency market, its highest share in a month, as capital moved away from smaller tokens. Over the past day, Bitcoin slipped 3.3% to just under $80,580, while Ethereum and XRP fell more sharply. About $900 million in positions were liquidated, and rising oil prices tied to Middle East tensions added to risk aversion.
Bitcoin's market share reached 60.05%, its strongest reading in a month, after dipping to 59% earlier in the period. In the latest 24-hour stretch, BTC fell 3.3% to just below $80,580, while Ethereum dropped 6% to $2,413 and XRP slid 7.4% to $1.33.
Roughly $900 million in crypto positions were liquidated, with more than 150,000 investor positions ended. The downturn coincided with macroeconomic strain, reduced institutional appetite, and cascading liquidations. Brent crude topped $105 per barrel on Thursday amid Middle East tensions and possible U.S. action against Iran, adding to risk aversion.
The shift toward Bitcoin may affect retail and institutional crypto investors differently, as altcoin holders could face deeper losses while Bitcoin-heavy portfolios may prove relatively resilient. Liquidations can pressure leveraged traders and reduce market liquidity, potentially cooling speculative activity. Higher oil prices tied to geopolitical tension may also shape household costs and broader risk sentiment, though crypto's direct societal reach remains limited compared with traditional finance.