The crypto market faced a sharp pullback over the last 24 hours, with leading altcoins like XRP, Solana (SOL), and Dogecoin (DOGE) falling harder than Bitcoin amid broader investor uncertainty and rising Bitcoin dominance.
Altcoins Underperform as Bitcoin Dominance Rises
Amid a nearly 5% contraction in the overall crypto market, Solana and XRP each fell by over 4.5%, while Bitcoin held relatively stronger with just a 1.6% drop, now trading at $105,370.
- Solana (SOL): -5.1%
- XRP: -4.5%
- Dogecoin (DOGE): -8%
- Chainlink (LINK) & Avalanche (AVAX): -5% or more
- SUI: -3.3%
This decline follows renewed volatility sparked by shifting headlines over President Donald Trump’s trade tariffs, adding to near-term investor caution.
Bitcoin Dominance Hits 64.14%
With altcoins retreating, Bitcoin’s dominance is once again on the rise, currently at 64.14%, according to TradingView. This marks a sustained upward trend after BTC dominance hit a four-year high earlier this month.
Analysts point to weak ETF activity and negative GDP data as contributing factors behind the cautious market tone.
Analyst Outlook: Near-Term Weakness for Alts
Valentin Fournier, Lead Research Analyst at BRN, commented that his firm is reducing exposure to underperforming altcoins like Solana, while maintaining an overweight position in Bitcoin.
“Bitcoin’s dominance rose again, reinforcing its resilience during market downturns. We expect a temporary drop toward the $100K level before a broader move toward $130K-$150K, after which altcoins could take over,” Fournier stated in a Friday note.
Uncertainty also lingers around the final outcome of Trump’s tariff policies, which analysts believe could quickly shift sentiment depending on the court’s decisions.
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