Market Structure: Incremental Gains on Lighter Volume
The broader crypto market expanded by $11.8 billion over the 48-hour window, lifting total capitalization from $2.325T to $2.337T—a 0.51% increase that reflects cautious accumulation rather than conviction buying. Volume contracted to $65.5B from $71.7B, down 8.6% period-over-period, indicating that the advance is occurring on relatively thin participation.
Bitcoin's dominance rose modestly from 56.54% to 56.75%, a 21 basis point gain that reinforces its role as a safe haven amid broader sentiment recovery. Ethereum's dominance ticked down slightly from 10.00% to 9.99%, suggesting alt-capital remains under pressure despite the marginal cap gain. This divergence points to selective strength in large-cap assets rather than broad-based risk rotation.
