Bitcoin dominance is holding ~60.6%, a level last seen in late May. But $BTC is down 5% in 30 days. The share went up because everything else fell harder. ★ The chart (@tradingview, BTC.D) → 60.6% now, up from 59.4% on Sep 24. → Above its 50-day (59.8%) and 200-day (59.6%) averages. RSI is 67, close to the 70 line. → The 1-year ceiling is ~61%: a 61.4% wick on Nov 4, 2025 and a 61.1% close on May 5, 2026. ★ Where the share came from (last 30 days) → BTC −5.0%. Total crypto market cap −7.0%. Everything except BTC −9.8%. → ETH/BTC −8.9% to 0.0290, RSI 25. $ETH dominance is down to 10.7%. → USDT dominance +6.7% to 6.87%. Stablecoins don't fall in a selloff, so their share rises by default. ★ The last two times BTC.D reached ~61% → Nov 2025: BTC.D fell from 60.8% to 59.1% by Nov 21 as BTC dropped 16%. USDT + USDC dominance rose 1.2 pts. ETH/BTC was flat. → May 2026: BTC.D fell from 61.1% to 57.9% by Jun 3 as BTC dropped 21%. USDT + USDC rose 1.8 pts. ETH/BTC −3%. → Both times, stablecoins took more than half of the share BTC lost, and ETH's share fell too. → Caveat: TradingView counts stablecoins in the total. Without USDT and USDC, BTC's share is ~67%. @coingecko shows 60.1% because it tracks a different set of coins. And two tops aren't a pattern. BTC.D is back at the ceiling with RSI near 70. If it rolls over again, is that an alt season, or another move into stablecoins?