Crypto traders are in risk-on mode as bitcoin dominance nears return to 60%
Bitcoin dominance is closing in on 60% while USDT’s has slipped to 6.3%, pointing to a market growing more comfortable with risk.
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Summary
- Bitcoin rose 3.4% to more than $86,000 ahead of the U.S. jobs report, while gains across the broader crypto market signaled growing appetite for risk.
- Economists expect the United States to have added 90,000 jobs in September, and a stronger-than-forecast report could lift Treasury yields, revive interest-rate increase bets and pressure bitcoin.
- Rising open interest and funding rates indicate traders are adding leveraged bullish positions, though $344 million in liquidations underscores the risk of heightened volatility.
