Bitcoin's market share has rebounded to 62%, and institutional investors continue to favor blue-chip crypto assets

Glassnode posted on platform X that the selling pressure indicator for long-term Bitcoin holders shows the smallest sell-off since June 10, as the supply held by long-term holders approaches historical highs (about 14.7 million BTC), indicating sustained confidence—despite recent market volatility, long-term investors are still unwilling to sell.

After experiencing a significant drop to 59% in May, Bitcoin's market share has now rebounded to 62%. This metric represents Bitcoin's market capitalization as a proportion of the total market capitalization of all cryptocurrencies and serves as an important barometer for gauging market sentiment and the potential dynamics of altcoin markets. Generally, a lower Bitcoin market share indicates increased investor interest in altcoins.

The current upward trend in market share suggests that capital flows remain primarily towards Bitcoin, with relatively limited attention on smaller crypto assets, which may delay the broader altcoin market from starting. This round of market share recovery reflects the increasing attention on crypto assets in Wall Street while investment patterns are becoming differentiated.

Despite the growing interest of traditional financial institutions in cryptocurrencies, this enthusiasm is mainly concentrated on Bitcoin, while altcoins have yet to experience a similar level of institutional 'frenzy.' This preference has also extended to crypto-related stocks, further suppressing the attention on altcoins. #加密货币 #山寨币