Altcoins experienced their largest weekend decline since mid-April, with the median top-500 token falling 5.8% by Sunday, October 18th. The share of Binance-listed tokens trading below their 200-day moving average has surged to 42.4%, signaling a return of selling pressure after a brief rally. Bitcoin dominance hit 60.77%, a 14-month high, while Ethereum’s share dropped to 10% and other cryptocurrencies account for just 28% of total market capitalization. This capital rotation toward Bitcoin raises doubts about a broad altcoin recovery before year-end. Concerns about equities spilled into cryptocurrency markets, prompting investors to protect capital rather than make speculative bets on riskier tokens.
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