The current market share of Bitcoin is around 61%. Based on past bull and bear market experiences, when the market share is around 60%-70%, phenomenon-level products tend to emerge, diluting Bitcoin's market share, such as the previous DeFi and NFTs of Ethereum. Will this bull market be driven by MEME or AI?

Let's review the previous bull and bear market transitions in Bitcoin's market share.

2017 Bull Market (2016-2017): Bitcoin's market share sharply declined from 80%-90% to 30%-40%. The reason: The rise of mainstream projects like Ethereum (ETH) and the ICO (Initial Coin Offering) wave that spurred a massive explosion of altcoins.

Bear Market (2018): The altcoin bubble burst, funds flowed back to Bitcoin, and Bitcoin's market share gradually rebounded to 60%-70%.

2020-2021 Bull Market (2020-2021): Bitcoin's market share started at around 70%, but due to the explosion of ecosystems like DeFi and NFTs, it dropped to 40%-50%. Altcoins like BNB, SOL, ADA, and DOT emerged, capturing a significant market share.

Bear Market (2022): As the market corrected, Bitcoin's market share rebounded to 40%-50%. The market became more conservative, and funds redirected to mainstream assets like Bitcoin and Ethereum.

Current (2024-2025): Bitcoin's market share fluctuates between 60%-70%.