Bitcoin Surges Past $86,000 as Crypto Market Shifts to Risk-On
Crypto traders are shifting to risk-on mode as Bitcoin surpasses $86,000 and its dominance in the crypto market approaches 60%.
The price of BTC rose by 3.6% in 24 hours, while other cryptocurrencies such as Ethereum, XRP, and BNB also posted gains.
USDT's market share fell to 6.3%, a signal that traders are exiting cash positions to take on more risk.
The open interest in BTC rose to $22.4 billion, and funding rates climbed to 9-10% annualized on platforms like Hyperliquid and OKX.