Crypto traders are in risk-on mode as bitcoin dominance nears return to 60%
Bitcoin is trading above $86,000 as market dominance approaches 60%, signaling a shift toward risk-on sentiment among crypto traders. Investors are closely monitoring upcoming U.S. economic data, including payroll reports and CPI, to gauge future Federal Reserve interest rate decisions.
Why it matters
The data suggests a shift in investor appetite for digital assets, which remains highly sensitive to macroeconomic indicators and central bank policy.
Bitcoin traded above $86,000 at 9:10 UTC, up 3.4% over 24 hours. Ether ETH $2,749.68 , XRP (XRP), solana (SOL) and BNB also rose, though none kept pace with bitcoin.
The bigger moves came further down the list. SKY, AAVE and APT jumped 7% to 10%, making them the best performers among the 100 largest coins by market value.
Bitcoin's dominance, or its share of the total crypto market, is closing in on 60%. Meanwhile, the share held by USDT, the largest dollar-pegged stablecoin, slipped to around 6.3%, suggesting traders are moving out of cash and into tokens. These two gauges point to a market growing more comfortable with risk.
The nonfarm payrolls report, due at 8:30 a.m. ET, is expected to show the U.S. economy added 90,000 jobs in September, down from 162,000 in August. The unemployment rate is forecast to hold at 4.1%, according to FactSet's consensus estimates.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in