Dominance · regime read
Who owns the OI?
BTC + ETH share of total Hyperliquid open interest and 24h volume. When majors dominate, capital is defensive. When alts run, risk appetite is on. Proxy for the classic altseason / BTC-season regime question.
Current regime
Altseason
BTC OI share below 35% — capital rotating into alts. Higher tail risk in both directions.
Altseason score
18/100
Open interest split
BTC 33.4%
ETH 23.7%
Alts 43.0%
BTC dominance
33.35% · $2.50B
ETH dominance
23.67% · $1.77B
Alts share
42.97% · $3.22B
24h volume split
BTC 52.0%
ETH 19.8%
Alts 28.1%
BTC vol
52.04% · $1.25B
ETH vol
19.83% · $475.98M
Alts vol
28.13% · $675.42M
Large-cap concentration
Top 7 by name (BTC + ETH + SOL + BNB + HYPE + XRP + DOGE) =81.2% of total OI
Top 10 alts by OI
See all 
Caveats
Dominance shown here is on Hyperliquid only— it mirrors the spirit of TradingView's BTC.D chart but on the perp DEX universe instead of full spot market cap. Cross-DEX dominance (HL + edgeX + Aster + CEX) comes in Sprint 6 connectors. For full crypto market cap dominance, see TradingView or CoinMarketCap.