#Gate广场五月交易分享 Bitcoin market share surpasses 61%: Will other cryptocurrencies follow suit?

Bitcoin's market share rises above 61%, leading the flow of funds in the cryptocurrency market.

On Wednesday, Bitcoin's market capitalization share climbed to 61%, reaching the highest level since November 2025. This indicator increased from 58.44% in early April, demonstrating that the bullish trend continues to favor Bitcoin rather than the broader cryptocurrency market.

In the past two months, trading volume of altcoins on bn has also increased by 49%, and 12.6% of altcoins have returned to the 200-day simple moving average (SMA).

Altcoins show initial signs of recovery
Cryptocurrency analyst Darkfost stated that Bitcoin has risen 36% since hitting a low of $60,000 on February 6, bringing its market share to 61.3%.
Although altcoins have been under pressure for most of this period, the TOTAL3 index, which tracks the total market value of cryptocurrencies excluding Bitcoin and Ethereum, has increased by 17%, reaching a two-month high of $765 billion.
Altcoin recovery has lagged behind Bitcoin, but some indicators have already begun to improve.

CryptoQuant's data shows that trading activity in the altcoin market is slowly increasing. On Wednesday, the trading volume share of altcoins on bn rose to 49%, up from 31% in March (based on the combined trading volume of BTC and ETH futures).
This growth indicates that after months of capital concentration in Bitcoin and Ethereum, other cryptocurrencies are gradually being accepted by more investors.

Darkfost added that this shift still appears to be moderate and is far from the aggressive rotation phase seen during the previous altcoin rally in 2024.
Market analyst CW8900 pointed out that the rising activity on centralized exchanges (CEX) is another sign of increased participation in cryptocurrencies other than Bitcoin.
The analyst stated that, apart from the five major cryptocurrencies, trading volume of other cryptocurrencies has steadily increased over the past few weeks.

The 90-day altcoin seasonal index has also risen to 28.6, marking the fastest rebound in months.
This index tracks whether most altcoins outperform Bitcoin during specific periods. Readings above 75 are usually associated with stronger altcoin cycles. However, CW8900 added,
“This indicator also shows that there hasn't been a true alternative investment season in this cycle. The peak of the alternative investment season index was in early 2024, and even then, the value was relatively low compared to previous alternative investment seasons.”

CryptoQuant's data shows that after months of severe weakness in Bitcoin, the overall altcoin market has improved.
Currently, the average trading price of altcoins is 23.47% below their 200-day simple moving average, rebounding from 44.4% earlier in the cycle.
Similar data appeared at the end of the 2022 bear market.