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Crypto market cap tops $2.95T as altcoins outperform
Bitcoin trades near $86.2K while spot Bitcoin ETF inflows surged to around $1 billion, helping fuel rotation from BTC into smaller tokens.
Crypto market capitalization rose another 1.7% to about $2.95T, briefly pushing above $3T, as gains skewed toward altcoins rather than the largest coins. Action Forex said BTC, ETH and BNB were up less than 0.5% over the same period, while Bitcoin Cash gained about 34%, Uniswap rose about 15%, and The Graph added 12.8%.
Action Forex reported that Bitcoin was trading around $86.2K on Wednesday morning, after matching Monday’s intraday high near $87.3K, with similar selling pressure. The outlet said the move reflects a temporary shift of speculative capital away from the most liquid segment of crypto into smaller, higher-risk assets.
The risk appetite backdrop was also linked to ETF and exchange activity, according to Action Forex. Inflows into US spot Bitcoin ETFs rose to levels last seen in early October, when BTC hit all-time highs near $126K, and Ethereum ETFs recorded their highest capital inflows since last October.
Action Forex also cited on-chain indicators, including Glassnode’s view that rising ETF inflows coincide with increased buying on crypto exchanges, alongside fast-growing leveraged positions. The outlet added that with around two-thirds of Bitcoin’s supply currently in profit and FOMO at its highest since 2024, profit-taking risk can increase as price moves higher.
Latest closeBitcoin $85,554.46 ▼0.7%|Ethereum $2,725.65 ▼1.0%|BNB $780.70 ▼0.9%