BTC Market Share Drops Below 60% as Broader Crypto and U.S. Stocks Surge

Bitcoin Market Share Dips Below 60% as Ether Outpaces Gains Amid Fed Rate Cut Expectations

Bitcoin’s share of the overall crypto market fell below 60% for the first time since February, highlighting growing investor appetite for altcoins—particularly Ether—as markets increasingly anticipate a Federal Reserve rate cut in September.

Bitcoin’s market capitalization now stands at $2.39 trillion, while the total crypto market has surged past $4 trillion, setting a new record. The decline in dominance comes as Ether (ETH) leads the latest leg of the rally, climbing past $4,600—its highest level in over two years.

The last time bitcoin dominance hovered near current levels, BTC traded below $100,000, underscoring the strength of the current altcoin advance.

Traditional risk assets are rallying in tandem. The S&P 500 and Nasdaq 100 both closed at all-time highs, reflecting broader market confidence.

Meanwhile, the U.S. Dollar Index (DXY) fell below 98, easing pressure on risk assets and adding fuel to the crypto rally.

Futures markets are now pricing in nearly 100% certainty of a 25 basis point rate cut at the Fed’s September 17 meeting, which would lower the benchmark rate to the 4.00%–4.25% range.

Still, macro uncertainty lingers. While July’s inflation report showed a softer headline print, core inflation remains persistent—potentially tempering the Fed’s dovish tilt in the months ahead.