The cryptocurrency market is surging again! As of June 12, 2025, the total global cryptocurrency market value has surpassed $3.38 trillion, with Bitcoin (BTC) crushing other currencies with an absolute dominance of 63.2%, reaching a new high in nearly three years. This data not only marks the return of crypto assets to their peak but also reveals that the market is accelerating towards 'Bitcoin centralization,' with astonishing risks and opportunities lurking behind it!
Bitcoin's 'bloodsucking' accelerates, institutions and sovereign capital are frantically buying up
The price of Bitcoin recently broke the $110,000 barrier, with over $430 million in liquidations across all contracts in 24 hours, leaving shorts severely battered. Its market share soared from 38% in 2022 to 63.2%, far exceeding Ethereum's (ETH) 9.75% and Solana's (SOL) 2.49%. Institutional capital has become the driving force: MicroStrategy's holdings have a floating profit of over $13.5 billion, and the U.S. strategic Bitcoin reserves have incorporated 200,000 BTC, valued at over $16 billion. Even more explosive is the net inflow into Bitcoin ETFs reaching $36.3 billion, four times that of gold ETFs, completely overturning the traditional logic of gold as a store of value!
Altcoins collectively 'fall silent,' market structure imbalance sparks controversy
The siphoning effect of Bitcoin has plunged altcoins into a winter. Currently, the combined market share of the top five currencies (BTC, ETH, USDT, BNB, SOL) exceeds 80%, with thousands of tokens vying for the remaining 20% share. Experts warn that this 'one-man show' pattern may stifle the vitality of innovative tracks such as DeFi and NFTs. The Ethereum 'Pectra' upgrade and Solana's high-performance ecosystem are highly anticipated, but funds still struggle to escape Bitcoin's gravitational pull.
Regulation and RWA: Can Bitcoin's hegemony be shaken?
The U.S. is reinforcing the 'dollar-crypto' cyclical hegemony through Bitcoin ETFs and stablecoin policies, while Hong Kong is vying for the position of Asia's crypto hub through licensing pilots. Meanwhile, the tokenization of real-world assets (RWA) is seen as the key to breaking the deadlock; the current market size is only $0.1 trillion, but if it grows to $1 trillion in the next two years, it may dilute Bitcoin's share. However, Bitcoin's scarcity (a cap of 21 million) and the trend towards institutionalization still support its 'digital gold' narrative.
