- Bitcoin dominance climbs to 63.1% as altcoins lag behind in a fearful market
- Fear and Greed Index stays low at 34 despite rising prices across major cryptos
- Ethereum volatility spikes to 73.09, signaling trader uncertainty and price swings
The cryptocurrency market is presenting a curious picture as prices climb while investor sentiment remains cautious. Despite positive momentum in major digital assets, the Fear and Greed Index stands at a low 34, signaling a fearful market environment.
Bitcoin has shown notable strength, trading at $87,555.58, up 3.23%. Ethereum also posted a 2.83% gain, reaching $1,647.71. Other large-cap cryptocurrencies mirrored this positive trend.
BNB rose to $605.23, Solana climbed to $140.99, and XRP advanced to $2.1305. These gains contribute to a total crypto market capitalization of $2.76 trillion. However, market participants remain cautious, with recent sentiment indicators suggesting that fear still dominates.
Bitcoin Leads, Altcoins Trail Behind
Bitcoin continues to dominate the market, holding a 63.1% share. Ethereum follows at 7.2%, while other coins make up the remaining 29.7%. This dynamic points to a clear Bitcoin season, where Bitcoin significantly outpaces altcoins in performance.
The Altcoin Season Index confirms this trend with a low reading of 17, suggesting altcoins are struggling to match Bitcoin’s momentum.
In terms of overall market movement, the CoinMarketCap 100 Index rose 2.87%, reaching $167.74. This rise shows a broader upward shift in the market. However, not all metrics reflect optimism.
The Fear and Greed Index remains low, and trading behavior suggests hesitation. The crypto ETF space reflects renewed confidence, with $106.9 million in net inflows after early-April outflows. This inflow may signal that institutional investors are slowly re-entering the market.
Speculative Activity and Market Volatility Grow
Another important indicator of market confidence is derivatives activity. Open Interest in perpetual contracts stands at $481.75 billion. Futures contracts add another $2.66 billion. These numbers reflect a high degree of speculative trading and likely institutional involvement.
Volatility expectations also hint at diverging trends within the market. Ethereum’s implied volatility is notably higher at 73.09, compared to Bitcoin’s 52.46. This gap implies traders expect Ethereum to experience sharper price swings. It could also indicate uncertainty about Ethereum’s near-term direction.
