The 12-Year Evolution of Bitcoin's Market Share

From April 2013 to July 2025, Bitcoin's market share in the cryptocurrency market experienced significant fluctuations. During this period, Bitcoin's daily market share fluctuated between a historical low of 31.1% and an early high of 99.1%. Notably, over these 12 years, Bitcoin maintained a market share of 50% or higher for two-thirds of the time, highlighting its dominant position in the crypto space for 8 years.

From an annual perspective, Bitcoin's average daily market share has gone through a process of first declining and then rising. Between 2013 and 2018, the market share fell for five consecutive years, from 93.3% to 44.6%. In 2019 and 2020, there was a rebound, reaching 60.2% and 62.7%, respectively. In 2021 and 2022, it again dropped to 47.6% and 39.3%. Since 2023, Bitcoin's market share has steadily increased again, averaging 45.6% in 2023, reaching 51.9% in 2024, and 59.3% so far in 2025. Currently, Bitcoin's market share is close to the 12-year daily average of 62.5%.

Key Levels of Bitcoin Market Share

Since February 2016, Bitcoin's market share has consistently failed to break 90%. This phenomenon reflects a turning point in the maturity of the crypto market following the 2017 ICO boom and the first altcoin bull market, when the number of mainstream alternative coins increased and their market capitalization grew accordingly.

It is also worth noting that since barely reaching 70.7% on January 3, 2021, Bitcoin's market share has remained below 70%. This means that over the past 12 years, Bitcoin has maintained an average daily market share of 70% or higher for only one-third of that time. Whether Bitcoin can break through the 70% threshold again in the future remains to be seen.

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 critical 60% level. 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.

Bitcoin Market Share Development History (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 daily market share fluctuating between 82.6% and 93.3%. Despite experiencing price corrections and regulatory challenges, Bitcoin still set a historical maximum market share of 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 significantly declined. On May 16, 2017, it first fell below 50%, dropping to 48.5%. On January 16, 2018, it even hit a historical low of 31.1%. The market share fluctuated most dramatically in 2017, plummeting from 87.2% at the beginning of the year to 37.6% by mid-year.

The period from 2019 to 2020: Returning to dominance on the eve of the third halving

Bitcoin has regained its dominant position in the market, with a market share fluctuating between 48.8% and 72.5%. This shift is primarily driven by factors such as the anticipation of the third halving in May 2020, investors returning to quality assets, and increased interest from institutional investors.

2021 to 2022: Altcoins Rise Again

During the bull market of 2021 and the market adjustment in 2022, Bitcoin's market share continued to decline from 69.5% to 38.6%. During this period, the influence of alternative coins in the crypto market significantly increased.

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 trend reflects structural changes in the cryptocurrency market, thanks to the approval of the Bitcoin spot ETF in the United States and the gradual clarification of the regulatory environment, leading to broader mainstream recognition and institutional adoption of Bitcoin.

It is worth noting that during this period, the fluctuation range of Bitcoin's market share has significantly narrowed, varying between -1.2 and +1.6 percentage points, showing greater stability compared to earlier years. This trend may indicate the gradual consolidation of Bitcoin's market position and the increasing maturity of the cryptocurrency ecosystem.