Author: Coingecko

Compiled by: Felix, PANews

The study examined Bitcoin's daily market share from April 29, 2013 to July 22, 2025, with data from CoinGecko.

How has Bitcoin's market share evolved over the years?

In the 12 years from 2013 to 2025, Bitcoin's market share in the crypto market fluctuated widely, fluctuating between an all-time low of 31.1% and an early high of 99.1%. During this period, Bitcoin's daily market share remained at 50.0% or higher for two-thirds of the time. In other words, Bitcoin has dominated the crypto market for eight of those 12 years.

On an annual basis, Bitcoin’s daily average market share has fallen for five consecutive years, from 93.3% in 2013 to 44.6% in 2018. It rebounded to 60.2% in 2019 and 62.7% in 2020, before falling to 47.6% in 2021 and 39.3% in 2022.

Since 2023, Bitcoin’s market share has been steadily rising again, with an annual average of 45.6% in 2023, 51.9% in 2024, and 59.3% so far in 2025. This means that Bitcoin’s market share in 2025 is currently hovering around the 12-year daily average of 62.5%.

Bitcoin's market share is currently hovering around the 12-year average of 62.5%

Statistical date: April 29, 2013 to July 22, 2025
Bitcoin’s Market CapKey Levels
Since February 2016, Bitcoin’s market cap has remained well below 90%. This reflected a turning point in the maturation of the crypto market following the ICO boom and the first altcoin bull run in 2017, when the number of major altcoins increased and their market capitalizations grew. 
Similarly, after barely recording 70.7% on January 3, 2021, Bitcoin’s market cap has declined and has remained below 70%. This means that in the past 12 years, Bitcoin’s daily market cap has only been 70% or higher one-third of the time. It remains to be seen whether Bitcoin’s market cap will break the 70.0% threshold again. 
It is worth noting that on April 7, 2025, Bitcoin's market share rose to 60.5%, breaking the 60% threshold for the first time in more than four years. The last time Bitcoin's market share exceeded this threshold was on March 15, 2021, when it reached 60.6%. In the past 12 years, Bitcoin's market share has been below 60.0% for more than half of the time. 
Bitcoin Market Share Development History (2013 - 2025)
The annual average, minimum and maximum values of Bitcoin's market share from 2013 to 2025 are as follows. 

2013  to  2016 : Bitcoin monopolizes the crypto market
Between 2013 and 2016, Bitcoin dominated the crypto market, with its average daily market share ranging from 82.6% to 93.3% per year. During this emerging period, despite a correction in Bitcoin’s price and the first major U.S. regulatory action against then-Bitcoin exchange Mt. Gox, Bitcoin’s market share in the crypto space peaked at 99.1% on May 29, 2013. 
Despite Bitcoin’s overwhelming share of the crypto market, Bitcoin’s market share experienced three of the largest swings during this period: 

On March 29, 2014, Bitcoin’s market share dropped 10.9 percentage points from the day before, from 89.6% to 78.7%. This occurred after the Mt. Gox collapse and can be attributed to a large increase in the total crypto market cap that was subsequently corrected. 
On January 15, 2015, Bitcoin’s market share dropped dramatically, by 16.2 percentage points, from 80.2% to 64.0%. The sharp drop was driven by a drop in Bitcoin prices from $221 to $172 the day before, marking the bottom of the bear market following the hack of the Bitstamp centralized exchange. 
On January 16, 2015, Bitcoin’s market share rebounded to 80.7%, up 16.7 percentage points from the day before, while Bitcoin’s price rebounded to $211. 

2017-2018: ICOs and altcoins overshadow Bitcoin
Over the next two years, Bitcoin’s market share fell further, falling to new lows during the ICO-driven altcoin bull run in 2017 and the bear market in 2018, well below the 80% and 70% thresholds. On May 16, 2017, Bitcoin fell below 50% for the first time, reaching 48.5%. Notably, on January 16, 2018, Bitcoin’s market share hit a record low of 31.1%, with the price of Bitcoin plummeting from $14,412 to $11,724. 
In the past 12 years, Bitcoin’s market share fluctuated the most in 2017, from 87.2% at the beginning of the year to more than half to 37.6% by June 19. In the second half of the year, Bitcoin’s market share briefly rose, then fell to a yearly low of 37.5%, then rebounded to 66% on December 7, and finally closed at 38.9% at the end of the year. 
On the other hand, Bitcoin’s market share generally showed an upward trend in 2018, from 37.4% at the beginning of the year to 52% at the end of the year. 
2019 to 2020: Bitcoin regains dominance as third halving approaches
In 2019 and 2020, Bitcoin regained dominance of the crypto market, with its share ranging between 48.8% and 72.5%. Bitcoin’s return to dominance during this period was the result of a combination of factors: primarily the anticipation of the third Bitcoin halving in May 2020, as well as investors’ return to quality assets after the ICO boom, early institutional interest in Bitcoin as “digital gold”, and Bitcoin’s role as an on-ramp in the “Summer of DeFi” in 2020. 
2021-2022: Altcoins Regain Influence
During the 2021 bull run and the 2022 pandemic-induced crash, Bitcoin’s market share continued to decline by 30.9 percentage points, from 69.5% to 38.6%. During these two years, as altcoins gradually gained a foothold and began to exert greater influence in the crypto market, Bitcoin’s market share continued to decline. 
During this period, Bitcoin’s share of the crypto market was less than 50% on 8 out of every 10 days. That is, Bitcoin’s market share was less than 50.0% on 624 out of 730 days. 
Specifically, in 2021, despite Bitcoin’s price rising from $29,022 to an all-time high and closing at $47,192 at the end of the year, a gain of 62.6%, Bitcoin’s market share still fell from 69.5% at the beginning of the year to 38.2% at the end of the year. In contrast, during the same period, the total market capitalization of the entire crypto market outperformed Bitcoin, soaring from $776.4 billion to $2.3 trillion, a gain of 200.6%. 
In 2022, Bitcoin’s market share started at 37.9% and ended at 38.6% as Bitcoin’s price fell 64.2%, in line with the 64.1% drop in the entire crypto market. In other words, Bitcoin itself was directly affected by the Terra-Luna and FTX crashes, and investors turned to fiat currencies to reduce risk. 
2023 to 2025: Bitcoin Goes Mainstream
Over 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. The recovery in Bitcoin’s market share reflects a structural shift in the crypto market, as Bitcoin has gained mainstream recognition and institutional adoption, thanks to the approval of the US spot Bitcoin ETF in January 2024 and the increasing clarity of the regulatory environment after the FTX debacle. 
Notably, Bitcoin’s market share has become increasingly stable, with smaller changes ranging from -1.2 percentage points to +1.6 percentage points. In contrast, between 2013 and 2016, Bitcoin's market share fluctuated between -16.2 percentage points and +16.7 percentage points; and between 2017 and 2022, it fluctuated between -8.8 percentage points and +7.0 percentage points. 
Related reading: Crypto Outlook for the Second Half of 2025: Can Bitcoin Break Through $200,000?