Bitcoin now instructions almost 62% of the whole crypto market, its highest degree since February 2021. As altcoins battle, merchants are intently watching BTC’s value motion, significantly the $102,000 CME Hole—a vital degree for potential reversals.
As of Feb. 3, Bitcoin’s (BTC) market dominance has climbed to almost 62%, marking its highest degree since February 2021. BTC market dominance measures the share of whole cryptocurrency market cap accounted for by Bitcoin. A dominance of 62% signifies that BTC makes up the majority of the market, leaving altcoins with the scraps.
Bitcoin’s market dominance reaches 61.66% on February 3, 2025, marking its highest degree since 2021. Sourced from Buying and selling View by crypto.information
In February 2021, Tesla introduced a $1.5 billion funding in BTC and a dedication to simply accept it for funds, inflicting the worth to surge above $44,000, based on Reuters.
This momentum continued all year long, pushed by rising adoption amongst companies and organizations, finally pushing BTC’s value previous $68,000 in November 2021.
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The latest drop is defined primarily by concern of a worldwide financial slowdown and anxiousness stemming from Trump’s tariff insurance policies in opposition to Mexico, Canada, and China. This market downturn has affected the larger altcoin market.
BTC’s ‘Kimchi Premium,’ the worth hole between BTC in South Korea vs. world markets, now stands at 12%—the very best in three years. This highlights the sturdy demand for Bitcoin in South Korea regardless of market turbulence.
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The CME Hole and Bitcoin dominance
MASSIVE #BITCOIN CME GAP.
Usually, these gaps are likely to get stuffed over the course of the week… pic.twitter.com/VYXYq7Ea2S
— Crypto Rover (@rovercrc) February 3, 2025
For merchants, the CME Hole at $102,436 is a key degree to look out for, says CryptoRover, a Key Opinion Chief within the crypto area. CME Gaps happen when BTC’s value makes a big transfer while the CME futures market is down. Traditionally, BTC tends to fill these gaps over the weekend, turning into a vital space of curiosity for merchants on the lookout for value reversals or corrections.
Whereas BTC’s dominance strengthens, many predict an upcoming altcoin season by February 2025, just like earlier market cycles.
ALTSEASON HAS ALWAYS STARTED IN FEBRUARY!!! pic.twitter.com/gAEbfgZ2Ye
— Mister Crypto (@misterrcrypto) February 1, 2025
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