Bitcoin Hits $123,000 All-Time High, Dominance Rises to 63.9 Percent

Bitcoin has reached a new all-time high of $123,000, solidifying its position as the dominant cryptocurrency in the market. This price surge has been accompanied by a significant increase in Bitcoin's market share, which currently stands at 63.9 percent, with a daily increase of 0.13 percent. This trend indicates a renewed interest in Bitcoin, even as other cryptocurrencies, such as Ethereum, have shown positive movement.

Historical data suggests that Bitcoin's dominance follows a predictable multi-year cycle. According to analyst Benjamin Cowen, the current patterns resemble those seen in previous years, with dominance increasing at the end of October 2025. This cycle is characterized by a shift in capital from altcoins back to Bitcoin, indicating a maturation of the market and a change in investors' risk tolerance.

The recent surge in Bitcoin's price has been driven by a combination of factors, including increased institutional and sovereign demand. This trend is expected to continue, with analysts projecting that Bitcoin's dominance will extend well into late 2025. The stable macroeconomic environment and positive earnings results are expected to provide a solid foundation for Bitcoin's continued growth and dominance in the market.

Institutional and sovereign demand is increasing, bringing a special dimension to the ongoing cycle. This demand is rendering BTC’s demand steadier and longer-term, reflecting its central role in the ongoing dominance cycle. With both historical trends and institutional support aligning, analysts expect Bitcoin’s dominance to extend through late 2025.