Bitcoin (BTC) dominance as a haven within crypto may be up for debate, but within crypto it's hardly questionable

Cryptocurrency prices have fallen across the board over the last 24 hours, yet bets on BTC's dominance keep growing.

Crypto prices fell across the market in the last 24 hours as broader financial markets also signaled a shift following a U.S. president’s conflicting messages on trade policy and derivatives traders kept bets on bitcoin’s dominance.

Prices dropped as Trump administration officials announced a cooling of the Trump administration's stance on trade with China and profit-takers moved in on crypto.

The comments dampened a rally that began after President Donald Trump signaled he would not remove Federal Reserve Chair Jerome Powell and suggested a softer stance on trade with China. That helped the price of bitcoin (BTC) to approach $95,000 before it dropped back to $92,200.

Pullback followed comments from Treasury Secretary Scott Bessent, who said there’s no unilateral plan to lift U.S. tariffs on Chinese goods, contradicting Trump’s suggestion that tariff rates could drop in the coming weeks. Investors struggled to interpret the policy direction as Trump also hinted at a “fair deal” with the world's second-largest economy.

The uncertainty revealed a shift toward bitcoin in the crypto space. The broader CoinDesk 20 (CD20) index lost 3.75% of its value over the last 24 hours, compared with BTC’s 2% drop.

Institutional traders' preference for BTC is shown by a Binance futures contract tracking the cryptocurrency’s dominance. It’s traded at a 76% premium for the one-year forward, indicating traders expect BTC to retain an edge over altcoins in the coming months, according to an emailed statement by Jake O., an OTC trader at Wintermute.

Options trading further illustrates this positioning. Large bets were placed on bitcoin hitting $110,000 by June, according to Jake O., with traders simultaneously selling calls at $140,000 and $170,000 for September and December — a calendar spread that signals short-term optimism and long-term caution.

Similar activity emerged in May $110,000 calls, where growing gamma exposure indicates increasing sensitivity in the market to price swings.

However, long-term crypto holders remain unfazed as data shows they keep accumulating despite a recent selloff in crypto markets.

Markets remained sensitive to the signals coming out of Washington, which given their softer stance also led to a gold dropping to $3,350 per ounce from more than $3,500. Stay alert!Token EventsConferences:CoinDesk's Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes.Token TalkBy Shaurya Malwa

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