Bitcoin dominance is climbing again
After bottoming in December 2024 at ~54%, BTC dominance has surged past 57% in January 2025.
This mirrors the 2020 cycle, where BTC dominance bottomed in Nov '20 (~60%), then rallied to 69% in Jan '21 before starting to decline again.
In the last cycle, Bitcoin dominance peaked near 72%. Shortly after, BTC hit ~$40K - over 2x its prior cycle's ATH - but still far from the eventual $64K top. Dominance began dropping as BTC's price soared, signalling a shift in risk appetite toward riskier assets.
