Altcoins posted their largest weekend decline since mid-April, while Bitcoin dominance climbed to a 14-month high. Fewer Binance-listed tokens now hold above their 200-day moving averages, which points to capital moving toward Bitcoin.
The median top-500 token declined 5.8% by Sunday, October 18, marking the largest weekend drop for altcoins since mid-April. Glassnode data shows a significant shift in how investors treat risky assets.
The sell-off also broke a pattern. Since Bitcoin's lows in June, traders who bought on Friday and sold on Sunday made consistent profits, but that relationship failed this weekend.
Bitcoin's slide leaves little room for altcoins
As Bitcoin slid toward $81,500, selling pressure grew and left little room for altcoins to absorb further declines. AMBCrypto notes that concerns about equities spilled into crypto markets, so investors may focus on protecting capital rather than on speculative bets.
Weaker buying on dips could lead to longer-term losses for altcoins and may make recoveries harder in upcoming sessions.
Fewer tokens hold their long-term trends
Momentum is fading across Binance-listed tokens. Between late August and early October, the share trading below the 200-day moving average fell from 81% to under 10%. The latest reading has climbed to 42.4%, which suggests selling pressure has returned across the sector.
Meanwhile, Bitcoin dominance has surged to 60.77%, its highest level in 14 months. Ethereum's share has fallen to 10%, and other cryptocurrencies account for just 28% of total market share.
Recovery will require stronger demand and wider participation in altcoins. If dominance holds, doubts about a market-wide rebound before the end of the year may grow.
Source: AMBCrypto
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