The Evolution of Bitcoin's Dominance: Market Share Analysis from 2013 to 2025

From April 29, 2013, to July 22, 2025, Bitcoin's market share in the cryptocurrency market has undergone significant changes. During these 12 years, Bitcoin's market share fluctuated between a historical low of 31.1% and a peak of 99.1% in the early days. Notably, during this period, Bitcoin maintained a market share of 50% or higher for two-thirds of the time, highlighting its dominant position in the cryptocurrency space for 8 years.

From the annual data, Bitcoin's average market share has declined for five consecutive years, from 93.3% in 2013 to 44.6% in 2018. It rebounded in 2019 to 60.2%, and further increased to 62.7% in 2020. However, it dropped again to 47.6% in 2021, and fell further to 39.3% in 2022.

In recent years, the market share of Bitcoin has shown an upward trend. The annual average for 2023 is 45.6%, rising to 51.9% in 2024, and reaching 59.3% so far in 2025. This indicates that the market share of Bitcoin in 2025 is approaching the 12-year average of 62.5%.

Key Nodes of Bitcoin Market Share

Since February 2016, Bitcoin's market share has remained below 90%. This change reflects the maturation of the crypto market after the 2017 ICO boom and the first altcoin bull market, with an increase in both the number and market capitalization of mainstream altcoins.

After January 3, 2021, Bitcoin's market share continued to decline and has never been able to break through 70%. In fact, over the past 12 years, Bitcoin has only been able to reach or exceed a 70% market share for one third of the time.

It is worth noting that on April 7, 2025, Bitcoin's market share rose to 60.5%, marking the first time in over four years that it has surpassed the 60% threshold. The last time it exceeded this level was on March 15, 2021, when it reached 60.6%. Over the past 12 years, Bitcoin's market share has been below 60.0% for more than half of that time.

Historical Evolution of Bitcoin Market Share (2013-2025)

From 2013 to 2016: Bitcoin dominated the cryptocurrency market

During this period, Bitcoin held an absolute advantage in the cryptocurrency market, with its average daily market share ranging from 82.6% to 93.3%. Despite a price correction in Bitcoin and regulatory actions taken by the U.S. against major Bitcoin exchanges at the time, Bitcoin's market share still peaked at 99.1% on May 29, 2013.

2017 to 2018: The rise of ICOs and altcoins

In the past two years, Bitcoin's market share has noticeably declined. On May 16, 2017, Bitcoin first fell below 50%, dropping to 48.5%. On January 16, 2018, Bitcoin's market share hit a historical low of 31.1%.

2019 to 2020: Bitcoin re-dominates the market

During this period, Bitcoin regained its dominance in the cryptocurrency market, with its market share maintaining between 48.8% and 72.5%. This is mainly attributed to the anticipation of the third Bitcoin halving in May 2020, as well as investors refocusing on quality assets.

2021 to 2022: Altcoins Rise Again

During the bull market of 2021 and the market adjustment of 2022, Bitcoin's market share dropped from 69.5% to 38.6%. During this period, Bitcoin's market share was below 50% on 8 out of every 10 days.

2023 to 2025: Bitcoin goes mainstream

In the past three years, Bitcoin's market share has steadily increased from 38.4% at the beginning of 2023 to 58.5% so far in 2025. This growth reflects structural changes in the cryptocurrency market, thanks to the gradual clarification of the regulatory environment and the participation of institutional investors.

It is worth noting that the volatility of Bitcoin's market share has gradually narrowed from an early range of -16.2% to +16.7% to a recent range of -1.2% to +1.6%, indicating the gradual maturation and stability of the market.