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Bitcoin Dominance Hits 64.60% As Market Consolidates

Coin WorldTuesday, Apr 22, 2025 4:18 am ET

1min read

Bitcoin (BTC) has solidified its position as the dominant force in the cryptocurrency market, with its market share reaching new heights. When combined with the top two stablecoins by market capitalization, Tether (USDT) and Circle’s (USDC), these three assets now account for approximately 72% of the total cryptocurrency market. This dominance highlights a broader trend of market consolidation, as investors increasingly favor assets perceived as safe and strong.

Bitcoin alone has surged to a 64.60% share of the crypto market capitalization, briefly touching levels not seen since January 2021. This rise in dominance reflects growing investor preference for bitcoin amid ongoing macroeconomic and market uncertainty. While bitcoin consolidates its leadership, its closest competitor, ether (ETH), continues to struggle in 2025. ETH has fallen more than 50% year-to-date, underperforming bitcoin. The ETH/BTC ratio has slipped to 0.01765, a level last seen in early 2020, highlighting the widening performance gap between the two leading digital assets.

Bitcoin has also notably diverged from U.S. equities. Since the beginning of April, the S&P 500 is down 6%, while BTC is up 4%, effectively holding its ground despite external market pressures. As of the latest data, bitcoin trades slightly above $88,000, while ether is holding just above $1,600.

Key technical levels to watch for bitcoin include the 200-Day Moving Average at $87,965, the 2025 Realized Price at $91,565, and the Short-Term Holder Realized Price at $92,385. Historically, bitcoin tends to enter a sustained bull market when trading above these key technical levels. This suggests that if bitcoin can maintain or surpass these levels, it could continue its upward trajectory, further cementing its dominance in the crypto market.

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