Bitcoin Market Share Slips Below 60% as Ether Drives Broader Crypto Rally
Bitcoin’s dominance in the crypto market has dropped below the 60% threshold for the first time since February 1, as altcoins—led by Ether—gain ground amid renewed investor optimism and dovish monetary policy expectations.
The world’s largest cryptocurrency now accounts for $2.39 trillion of the total crypto market, which surpassed $4 trillion for the first time ever. Ether has been the key outperformer in recent sessions, breaking above $4,600 and narrowing the gap with bitcoin in terms of market influence.
The decline in bitcoin dominance comes alongside a broader rally in risk assets. U.S. stock markets are also pushing to new highs, with both the S&P 500 and Nasdaq 100 setting fresh records on Monday.
Meanwhile, the U.S. Dollar Index (DXY) has retreated below 98, reinforcing the risk-on environment across both traditional and digital asset markets.
Markets are now overwhelmingly pricing in a rate cut at the Federal Reserve’s September 17 meeting, with futures implying near-total certainty of a 25 basis point reduction that would bring the benchmark range down to 4.00%–4.25%.
However, recent inflation data presents a mixed picture. While headline consumer prices came in softer than forecast, core inflation pressures remain elevated—potentially complicating the Fed’s path forward.
