Bitcoin's market share reaches 60%, the highest since May, as altcoins come under pressure

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Bitcoin news: On October 22, Bitcoin’s market share rose to 60%, the highest since May 2026, as investors favored it over altcoins. Bitcoin analysis showed it fell below $82,000 on Thursday, erasing gains from the previous day’s rise above $84,000. Smaller tokens plunged sharply, with the CoinDesk Memecoin Index dropping over 5%. LMAX’s Joel Kruger said crypto is now more aligned with stock market trends. Giottus’ Vikram Subburaj warned that Bitcoin ETF inflows have not yet established a lasting trend, urging investors to monitor inflows and Federal Reserve signals.

ME News reports that on October 22 (UTC+8), Bitcoin’s market share rose to 60%, reaching its highest level since May this year, and has remained near this level, reflecting investors’ preference for holding Bitcoin over altcoins. Meanwhile, Bitcoin fell below $82,000 on Thursday, giving back gains from its brief breakout above $84,000 the previous day. Lower-market-cap tokens saw even steeper declines, with the CoinDesk Memecoin Index dropping over 5%, the Computing Select Index falling 3.5%, and the DeFi Select Index declining 2.5%.
Joel Kruger, Market Strategist at LMAX Group, said that the crypto market’s previous outperformance relative to other assets has now become more closely aligned with stock market movements, as investors await new industry catalysts. Vikram Subburaj, CEO of Indian exchange Giottus, noted that Bitcoin ETF inflows have not yet formed a sustained trend, and investors should avoid chasing price rallies, instead focusing on ETF fund flows and Federal Reserve policy signals. (Source: PANews)

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