Bitcoin Market Share Evolution Over 12 Years: From Monopoly to Stability

From April 2013 to July 2025, Bitcoin's share in the cryptocurrency market experienced significant changes. During this period, Bitcoin's market share fluctuated between a historical low of 31.1% and an early high of 99.1%. Notably, in 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.

From an annual data perspective, Bitcoin's average market share has experienced five consecutive years of decline, dropping from 93.3% in 2013 to 44.6% in 2018. There was a rebound in 2019 and 2020, reaching 60.2% and 62.7% respectively. However, there was another decline in 2021 and 2022, falling to 47.6% and 39.3%. Since 2023, Bitcoin's market share has been steadily increasing again, averaging 45.6% in 2023, 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 Milestones in Bitcoin Market Share

Since February 2016, Bitcoin's market share has failed to break through 90%. This phenomenon reflects a turning point in the maturity of the crypto market after the 2017 ICO boom and the first altcoin bull market, with both the number and market value of mainstream altcoins increasing.

It is also worth noting that since barely reaching 70.7% on January 3, 2021, Bitcoin's market share has continuously declined and has remained below 70%. This means that over the past 12 years, Bitcoin's market share has only reached or exceeded 70% for one-third of the time.

On April 7, 2025, Bitcoin's market share rose to 60.5%, marking the first time in more than four years that it 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)

2013 to 2016: Bitcoin dominated the crypto market

During this period, Bitcoin held an absolute advantage in the crypto market, with its average daily market share ranging from 82.6% to 93.3%. Despite experiencing price corrections and regulatory actions, Bitcoin's market share still peaked at 99.1% on May 29, 2013.

2017 to 2018: The Rise of ICOs and Alternative Coins

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

2019 to 2020: Bitcoin regained dominance

On the eve of the third halving cycle, Bitcoin regained market dominance, with its market share maintaining between 48.8% and 72.5%. This shift is attributed to expectations surrounding the halving, investors returning to quality assets, increased interest from institutional investors, and Bitcoin's key role in the DeFi boom.

2021 to 2022: Alternative coins rise again

The bull market and the subsequent market crash led to a continuous decline in Bitcoin's market share, from 69.5% to 38.6%. During this period, alternative coins played a greater role in the crypto market.

2023 to 2025: Bitcoin gradually moves towards mainstream

In the past three years, Bitcoin's market share has steadily increased from 38.4% at the beginning of 2023 to the current 58.5% in 2025. This growth reflects structural changes in the cryptocurrency market, thanks to the approval of the U.S. spot Bitcoin ETF and the gradual clarification of the regulatory environment, which has led to broader recognition and adoption of Bitcoin.

It is noteworthy that the fluctuation range of Bitcoin's market share has gradually decreased, with the recent change narrowing to between -1.2 and +1.6 percentage points, indicating a gradual maturity and stability of the market.