Bitcoin Tops 60% Dominance; White House Hints Reserve Plan

Markus Thielen, founder of crypto research firm 10x Research, posted on X on May 3 that Bitcoin is trading above its seven-day and 30-day moving averages and that its market share has climbed above 60%.

CoinGecko lists the price near $78,379.50. Thielen reported Bitcoin gained about 1.1% over the prior week and roughly 17.3% over the past 30 days. He said the coin remains in positive territory on daily and weekly charts and that readings are above short- and medium-term moving averages.

The recent rally coincided with the Bitcoin 2026 conference in Las Vegas. Intra-conference trading pushed prices toward $79,500 before a pullback, a pattern some market participants described as “buy the rumor, sell the news.” The market entered a short consolidation phase after the event.

Thielen attributed sustained market confidence to ongoing institutional buying and large corporate treasuries increasing their Bitcoin allocations.

He also reported that White House advisers have hinted at an upcoming announcement on a national strategic Bitcoin reserve. Thielen wrote that the prospect of a policy-level commitment has improved investor sentiment and may act as a catalyst once details are released.

On altcoins, Thielen highlighted that “a small group of altcoins is quietly bottoming out with real catalysts behind them.” He pointed to privacy-focused coins and projects that tokenize real-world assets, which convert bonds, stocks and real estate into digital tokens tradable on blockchain networks.

The 10x Research note emphasized structural flows beneath headline moves: technical trend support, continued institutional accumulation and potential policy developments from Washington. The Fear & Greed index moved into neutral territory after weeks of negative readings.

The note flagged liquidity, further institutional announcements and any public statements from U.S. advisers as items to watch for signs that demand could pick up and extend recent gains.