- Bitcoin, alongside USDT and USDC, now controls 72% of the crypto market, reflecting a strong investor shift toward safer digital assets amid market uncertainty.
- As Bitcoin’s dominance rises to 64.60%, Ether struggles with a 50% year-to-date decline, widening the performance gap between the two leading cryptocurrencies.
Bitcoin’s reign over the crypto market has hit new highs, reinforcing its dominance while Ethereum lags behind. As of April 22, 2025, BTC commands a 64.60% share of the total cryptocurrency market capitalization — a level last seen in January 2021. When combined with the two largest stablecoins, Tether (USDT) and USD Coin (USDC), these three giants now control a staggering 72% of the entire crypto space.
BTC Dominance Surges as Ether Stumbles
This shift highlights a significant consolidation of market power into perceived “safe haven” digital assets. While Bitcoin’s price has climbed to over $88,000, Ether has taken a steep 50% dive since the beginning of the year. The ETH/BTC ratio now sits at 0.01765, marking its lowest point in five years — a clear sign of Bitcoin’s widening performance gap over its closest rival.
The sharp divergence between BTC and ETH paints a picture of investor caution. Market participants appear to be leaning heavily into Bitcoin and stablecoins, avoiding the volatility seen in altcoins like Ether. This trend is especially evident in a year marked by macroeconomic headwinds and uncertainty in traditional markets.
Outperforming Equities and Testing Key Levels
Bitcoin is also outshining the broader financial market. Since the start of April, dubbed “Liberation Day” by some crypto enthusiasts, the S&P 500 has dropped 6%. In contrast, Bitcoin has risen by 4%, showcasing its growing appeal as a hedge against traditional market turbulence.
Technical indicators suggest BTC is approaching critical thresholds that could shape its short-term trajectory:
- 200-Day Moving Average: $87,965
- 2025 Realized Price: $91,565
- Short-Term Holder Realized Price: $92,385
A decisive move above these levels could ignite a new leg of bullish momentum. Historically, Bitcoin entering and holding above these marks has often preceded sustained uptrends.
A Flight to Quality
The growing dominance of Bitcoin and stablecoins signals a maturing market, where investors increasingly favor assets with resilience, liquidity, and proven market value. As altcoins struggle and regulatory pressures mount, BTC’s strength stands out — not just as a crypto asset, but as a broader financial force.
With Bitcoin consolidating its leadership and stablecoins securing their role as digital cash equivalents, the rest of the crypto market is left playing catch-up in a space increasingly defined by quality over quantity.