Bitcoin, ether benefit as traders seek safety of largest tokens

MarketsBitcoin, ether benefit as traders seek safety of largest tokensThe two largest cryptocurrencies are the only CoinDesk 20 members in positive territory as altcoins fall out of favor.By Francisco Rodrigues, Omkar Godbole, Shaurya Malwa|Edited by Sheldon Reback Aug 6, 2026, 10:43 a.m. 5 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin is outperforming the broader crypto market as traders rotate toward large-cap tokens like bitcoin and ether while altcoins see falling open interest and weak momentum.Derivatives data show a cautiously bullish tilt for bitcoin, with rising futures open interest, steady implied volatility and growing upside options bets, while XRP and SOL face leverage-driven pressure.NEAR’s new stake-to-compute model ties its token to AI computing power, but analysts say its success hinges on sustained real demand and usage once early incentives and subsidies fade.Bitcoin BTC$64,368.38 has added around 0.9% in the past 24 hours to $64,700, while the broader CoinDesk 20 (CD20) is up just 0.16%. Strength in equity markets, which have climbed to record highs, appears to leave the crypto sector unperturbed.Crypto appears to be moving to the perceived safety of the biggest tokens, with bitcoin and ether ETH$1,897.76 the only CD20 members in positive territory. Zaheer Ebtikar, the chief strategy officer at crypto neobank Plasma, told CoinDesk altcoins are struggling “without aggressive support from bitcoin momentum.”Altcoin open interest has fallen about 15% over the past month while bitcoin has gained roughly 8%, Ebtikar said. CoinMarketCap’s Altcoin Season index fell one point from Wednesday to 42/100.“Because Bitcoin has moved into capital markets plumbing with ETFs, basis trading, institutional hedging, and collateral, that flow doesn't need a rally to justify itself. However, most of the altcoin market hasn't made that transition yet,” Ebtikar said.The divergence,…

Bitcoin, ether benefit as traders seek safety of largest tokens

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