Bitcoin Dominance Increases as Altcoins Falter and Market Narrows Ahead of Holidays

Market structure is narrowing with growing Bitcoin dominance due to oversupply and token unlocks causing altcoin underperformance. Institutional investors have been steadily buying major cryptocurrencies since summer, while retail traders shift from altcoins back to Bitcoin and Ethereum. Despite stable spot buying, price discovery mainly occurs via derivatives, resulting in short-term volatility amid thin liquidity, with traditional financial institutions gradually entering the crypto market.