Bitcoin News Logo

Bitcoin Dominance Surges, Accounting For Almost 50% of The Entire Digital Assets Market


Written by:

Alex Lari

Support writers:   ⚡ Tip the author

Bitcoin, the decentralized digital money, has witnessed a surge in its portion of the overall digital assets market.

Calculated as a ratio of the total market capitalization of digital assets, bitcoin dominance experienced a notable increase, reaching close to 50% during the early hours of Saturday morning.

Saturday’s upward trajectory in bitcoin dominance was accompanied by a meltdown in the altcoins market.

Bitcoin market dominance chart – Q2 2023
Source :

The surge in bitcoin dominance can be attributed to a number of factors.

The Banking Crisis

The recent banking crisis that has emerged in the United States, which could grow into a global issue, has driven many investors to look for alternate assets in order to hedge themselves against the unforeseen consequences of numerous bank bailouts by the governments.

Read more on the subject : As US Banking Crisis Wildfire Spreads

Strong Fundamentals

Bitcoin, with its decentralized nature, finite supply and scarcity, and enormous network power backing it has gained the attention of many investors. These are strong fundamentals and unique attributes that other digital assets lack.

Although individuals may be inclined to explore altcoins and engage in speculative activities to generate quick profits during normal circumstances, they inevitably return to the ultimate digital money when faced with serious situations.

This has caused a flow of capital into bitcoin from various altcoins.

Read more on the subject : It’s Not Just About Price – Bitcoin Fundamentals Have Bullish Taste

Price Resilience In The Recent SEC Clash

Another contributing factor is the resilience of bitcoin’s price compared to numerous altcoins during the recent SEC clash with digital asset exchanges. During this period, altcoins faced substantial losses reaching double-digit percentages.

Read more on the subject : Bitcoin Is The Only Winner In SEC Clash

Strong Price History In The Long Run

Simultaneously, the constant upward trajectory of bitcoin’s price in the long run provides investors with a certain level of security in a world where fiat savings get corroded by inflation steadily. This prompts a flow of funds from different asset classes into bitcoin.

Read more on the subject : 97% of Institutional Investors Optimistic About Bitcoin

These factors have caused bitcoin’s proportionate slice of the overall market capitalization to expand.

Bitcoin’s dominance rate has been steadily climbing since November 2022 and experienced a significant boost during the U.S. banking crisis in March.

In the wake of Saturday’s surge, bitcoin dominance has reached its highest level since 2021.

Read more on the subject

Share this post via:

Enjoyed the article?

100% of your tips go directly to [email protected]
Need a wallet? Get it here

⚡️ Tip The Artist is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Plan B with a Cinematic Twist

The second edition of Plan B Forum, one of the most important bitcoin gatherings in Switzerland, is set to return to the picturesque city of Lugano on the last weekend of October.

Read More »

Join our news letter



share this post via