Bitcoin and Stablecoins Dominate 72% of Cryptocurrency Market

Bitcoin’s dominance in the crypto market reaches 64.60%, strengthened by the inclusion of top stablecoins, USDT and USDC, leading to a total dominance of 72%. Ether struggles with a year-to-date decline exceeding 50%, resulting in the lowest ETH/BTC ratio in five years. Bitcoin’s resilience against U.S. equities contrasts its performance amid economic uncertainties. Key technical levels are pivotal for short-term price direction.

Bitcoin’s (BTC) influence in the cryptocurrency sphere has escalated, now accounting for 64.60% of the market, its highest level since January 2021. Alongside the stablecoins Tether (USDT) and Circle’s USDC, Bitcoin’s dominance reaches 72% of the total crypto market capitalisation. This trend indicates a consolidation of capital towards established cryptocurrencies during uncertain economic times.

Ether (ETH), Bitcoin’s closest rival, has struggled in 2025, experiencing a decline of over 50% year-to-date. Consequently, the ETH/BTC ratio has plummeted to 0.01765, its lowest in five years, highlighting the growing disparity in performance between these two leading cryptocurrencies.

Bitcoin’s performance has also contrasted sharply with U.S. equities. Since early April, when the S&P 500 saw a 6% decline, BTC has managed a 4% increase, holding steady amid market fluctuations. Currently, Bitcoin trades just above $88,000, while Ether maintains a position over $1,600.

Investors are advised to monitor key technical levels for Bitcoin that might affect its short-term trajectory: the 200-Day Moving Average at approximately $87,965, the 2025 Realized Price around $91,565, and the Short-Term Holder Realized Price at $92,385. Historically, BTC tends to enter bullish phases when its trading price is sustained above these critical metrics.

James Van Straten, a Senior Analyst at CoinDesk, focuses on Bitcoin’s correlation with macroeconomic trends. He previously worked as a Research Analyst and has a keen understanding of on-chain analytics. Additionally, he advises Coinsilium on Bitcoin treasury strategy and has investments in Bitcoin, MicroStrategy, and Semler Scientific.