Bitcoin Dominance Reaches 65.18%, Highest Level in About 52 Months

Bitcoin dominance, which shows the share of Bitcoin in the total virtual asset market capitalization, rose to its highest level in about 52 months.

According to Trading View on the 7th, Bitcoin dominance recorded 65.18% as of 2 p.m. that day.

It is the first time since January 23, 2021, that Bitcoin dominance has exceeded 65%.

In particular, it rebounded about 10 percentage points compared to the short-term low of 55.11 percent recorded on December 7 last year.

Bitcoin dominance has risen sharply this year. Bitcoin dominance has soared about 12.25% this year, according to TradingView.

This is because the virtual asset market has risen mainly in Bitcoin since Donald Trump took office as U.S. president.

According to CoinMarketCap, major altcoins such as Ethereum (-45.13%), BNB (-13.83%), Solana (-22.89%), and Dogecoin (-45.54%) all fell as of 2:30 p.m.

On the other hand, Bitcoin rose 2.20% from 24 hours ago to $96,414.28, up 3.25% this year. Among major altcoins, the increase is greater than XRP (+2.89%) which is the only increase this year.

Meanwhile, the virtual asset market has recently recorded unprecedented low volatility.

Bitcoin's weekly volatility index (BVOL7D) hit 4.08, according to Trading View. This is the lowest level recorded since October 2023.

The index shows the volatility of Bitcoin over the last seven days. The percentage change was calculated by measuring the price of Bitcoin every minute. The high BVOL7D index means Bitcoin price volatility has increased.

However, some analysts say that Bitcoin's volatility could increase depending on the results of the Federal Open Market Committee (FOMC) of the U.S. Federal Reserve System (Fed), which is scheduled to release results on the 8th (Korea Standard Time).

"The virtual asset market was very volatile this week as investors waited for a catalyst that could cause price fluctuations," said Joel Krueger, a market strategist at LMAX. "There is a possibility that the U.S. Fed will bring a catalyst for the virtual asset market in the traditional economic market, such as the decision to make at the FOMC or the economic impact of tariffs."