Bitcoin (BTC) dominance, a measure of Bitcoin’s overall share of the crypto market, has been steadily rising since 2023 amid a torrent of new cryptocurrency coins and tokens.
The current BTC market dominance is roughly 61.6%, down from the local peak of 64.3% recorded on Feb. 3.
BTC market dominance broke back above 60% on Feb. 2 amid a general market downturn over fears of a prolonged trade war between the United States and its trading partners.
Macroeconomic uncertainty typically takes a toll on risk-on assets, and the recent market downturn hit altcoins harder than BTC due to their lower liquidity and higher-risk profiles.
Bitcoin market dominance has been rising since 2023. Source: TradingView
The current market cycle also features Bitcoin exchange-traded funds (ETFs), which silo liquidity into these financial instruments — <a data-ct-non-breakable="null"