Bitcoin solidified its market dominance in the cryptocurrency market in 2025, reaching new record levels. Bitcoin dominance rose above the 65% mark, accounting for more than two-thirds of the total cryptocurrency market, currently valued at approximately $2.93 trillion.
Bitcoin dominance at record levels
In the first quarter of 2025, Bitcoin’s dominance increased by about 4.6 percentage points, reaching approximately 59.1%, the highest level since early 2021. Despite a partially declining Bitcoin price, Bitcoin managed to maintain its position as the leading cryptocurrency, while many altcoins recorded significant losses.
Doubts about an upcoming altcoin season
Experts express doubts about an imminent altcoin season — a phase where altcoins gain significant value compared to Bitcoin. Zach Pandl, Head of Research at Grayscale, predicts a stabilization of Bitcoin’s dominance in the next nine to twelve months between 60 and 70 percent. He argues that the introduction of spot Bitcoin ETFs ties institutional capital more strongly to Bitcoin, thereby weakening the traditional pattern of capital rotation from Bitcoin to riskier altcoins. This would reduce the likelihood of a classic altcoin season.
Pandl also emphasizes the influence of geopolitical uncertainties or currency crises on Bitcoin’s role as digital gold: In such times, Bitcoin’s market share typically continues to rise. In contrast, dominance tends to decline significantly only when investors focus more on technological innovations in the blockchain space — which is currently not the case.
Outlook on market movements
Other experts like Juan Leon (Bitwise) view recent surges in some altcoins more as a reflection of a generally higher risk appetite in the market rather than the beginning of a sustainable altcoin season. Factors such as relaxed trade policies between the USA and China as well as potential interest rate cuts by the US Federal Reserve could provide positive short-term impulses; however, Bitcoin’s dominance remains strongly pronounced.
In summary:
- Bitcoin reaches new record dominance values over 65% of the cryptocurrency market.
- Experts expect a stabilization of this dominance at a high level (60-70%) for at least the coming year.
- The introduction of spot Bitcoin ETFs ties institutional capital more firmly to BTC.
- A classic altcoin season is currently viewed skeptically due to these factors.
- Technological innovations or fundamental changes in the blockchain sector would be necessary for a sustainable decrease in BTC dominance in favor of altcoins.
These developments suggest that Bitcoin’s market dominance could persist for additional years and a comprehensive altcoin season is unlikely for the time being.