Bitcoin\'s market dominance fell to 54 percent, the lowest in a month, while the share of cryptocurrencies excluding Bitcoin, Ethereum and stablecoins rose to 24.68 percent. The move was not explained only by Bitcoin weakness, as sentiment improved but stayed in extreme fear. Funds concentrated in projects with clear revenue and buyback or burn mechanisms, and in tokens tied to Solana activity or institutional distribution.

Circle shares fell sharply on worries that a new stablecoin, OpenUSD, could intensify competition, but Wall Street said the selloff looked overdone. ClearStreet said OpenUSD has partners comparable to major stablecoins but has yet to show evidence of meaningful adoption. Circle CEO Jeremy Allaire highlighted USDC\'s scale and said OpenUSD would not have that base at launch. USDC ranks second among stablecoins by market value.