Altcoin Market Stagnant as Bitcoin Dominance Nears 60%

The altcoin market remains capped as Bitcoin's dominance nears 60%, and without a sustained bid flowing back into BTC. Historically, sharp Bitcoin pullbacks have triggered rotation into altcoins, but this cycle has seen no clear signs of capital rotation.

XRP and Solana are seeing steady institutional inflows, despite the broader market weakness. The XRP/BTC ratio has been down nearly 30% since the October crash last year, drifting back toward Q4 2024 levels. A similar pattern is visible in SOL/BTC, which was down over 45% over the same period.

Solana's total real-world asset (RWA) value has pushed to a new record above $3 billion, reinforcing its positioning as a leading venue for on-chain capital deployment. Circle has minted another 750 million USDC on the network.

Ripple is showing a similar pattern on the demand side, with XRP now outpacing Bitcoin and Ethereum in weekly ETF flows for five consecutive weeks. XRP ETFs recorded over $2 million in net inflows last week versus Bitcoin's $19 million outflow.