Bitcoin Dominance Hits 63.9% Amid Institutional Adoption

Cryptocurrency analyst Benjamin Cowen has forecasted that Bitcoin's dominance in the market will increase by late October 2025. This prediction is based on historical patterns observed in previous years, including 2017, 2019, 2023, and 2024. Cowen's analysis suggests that the current dominance levels will recover, validating the strategy of maintaining a BTC-heavy portfolio and using Bitcoin as a unit of account rather than the USD.

Bitcoin's yearly dominance peaked at 65.1% in June 2025, outpacing Ethereum and other altcoins. Current market figures show Bitcoin maintaining a 63.9% market share with a 0.13% daily growth rate. Ethereum maintains 9.6% with a 0.23% growth rate, while other cryptocurrencies maintain 26.5% despite a 0.36% drop. These figures indicate that Bitcoin continues to dominate the market, even amid a slight dip in its dominance.

Historical data reveals that Bitcoin's dominance was at its peak in December 2013, controlling 87.4% of the total market capitalization. This period was characterized by fewer altcoins and limited institutional participation. In contrast, the 2018 period saw Bitcoin's dominance fall to 33.4%, with Ethereum and other cryptocurrencies having 13.5% and 53.1% market share, respectively. This shift was driven by the ICO bubble, which siphoned speculative money away from Bitcoin.

Market forces today are significantly different from those of 2013. The emergence of Ethereum and other smart contract platforms has brought genuine alternatives, eventually halving the potential peak dominance of Bitcoin. Despite this, Bitcoin's dominance reached its yearly high on June 27, 2025, posting a 65.1% gain, outpacing Ethereum’s 8.9% and the 26.0% rise seen across other cryptocurrencies. This indicates a reallocation of capital towards Bitcoin against growth in the broader cryptocurrency market.

With Bitcoin at a new high, an analyst has identified what is referred to as the “Bitcoin Supercycle” according to the Livermore Accumulation Cylinder model. This model predicts that Bitcoin is entering stage 8, characterized by explosive growth, nations accumulating Bitcoin, and institutions afraid that they will be left behind. The Livermore model suggests that Bitcoin has finished accumulation phases and started exponential price discovery fueled by sovereign wealth funds and corporate treasury adoption. Institutional demand creates continuous buying pressure that is unlike history’s retail-driven cycles.

Nation-state adoption by various jurisdictions, along with planned strategic Bitcoin reserves, establishes a bedrock demand independent of speculative trading. Such sovereign buying ensures long-term price support, irrespective of short-term market sentiment. Additionally, corporations are increasing their treasury exposure to Bitcoin as a hedge against inflation and currency risk. This movement has caused more firms to explore Bitcoin-backed treasury management strategies, further solidifying Bitcoin's position in the market.