Bitcoin dominance hits 60% as altcoins plunge

6.8 Markets

Oct 8, 2026

Bitcoin dominance hit 60.05% as altcoins plunged and $900M was liquidated. Investors shifted capital to Bitcoin amid volatility and macroeconomic pressures.

Bitcoin's market dominance has surged to 60.05%, marking a one-month high as the cryptocurrency market faces a sharp sell-off. This uptick highlights a shift in investor capital from altcoins to Bitcoin, as traders seek relative stability amid heightened volatility. Over the past month, Bitcoin dominance fluctuated, dipping to 59% before rebounding. In the latest downturn, Bitcoin lost 3.3% in 24 hours, trading just below $80,580. Major altcoins experienced even steeper declines: Ethereum fell 6% to $2,413, XRP dropped 7.4% to $1.33, Solana crashed 9.2% to $106.21, Dogecoin lost 8.3%, and Zcash plunged 14%. Nearly $900 million in liquidations impacted over 150,000 traders. The sell-off is attributed to macroeconomic pressures, waning institutional interest, and cascading liquidations. As a result, Bitcoin's comparative strength has increased, with capital rotating away from riskier altcoins, intensifying pressure on their valuations and communities.