Bitcoin pushed above $86,000 on Friday as crypto traders rotated out of stablecoins and into more speculative assets, with the token’s share of the total digital-asset market closing in on 60% for the first time in years.

The world’s largest cryptocurrency gained 3.4% over 24 hours to trade around $86,000 ahead of the U.S. nonfarm payrolls report. Ether, XRP, Solana and BNB all advanced, though none matched bitcoin’s pace. The most dramatic moves came from lower-capitalization tokens, with SKY, AAVE and APT surging between 7% and 10% to lead the top 100 coins by market value.

The shift in market composition tells a clear story. Bitcoin dominance, which measures the token’s share of total crypto market capitalization, is approaching the…