Bitcoin Dominance Soars to Four-Year High Following U.S. Job Data Upswing

Bitcoin’s market dominance rises to 64.89%, the highest in four years, due to strong U.S. job data which has led to delayed interest rate cut hopes, impacting investors’ views on Bitcoin. Institutional inflows, particularly from firms like Metaplanet, are bolstering Bitcoin’s appeal as it becomes favoured amidst economic uncertainty. Market analysts suggest Bitcoin’s fixed supply makes it a safer long-term investment, shifting focus from altcoins to Bitcoin.

Bitcoin’s dominance in the cryptocurrency market has recently surged, now reaching 64.89%. This marks the highest level seen in four years, driven largely by the latest U.S. job data that has caught investor attention. As employment figures came in stronger than expected, market participants are scrambling to reassess their economic outlook, which impacts Bitcoin’s trajectory moving forward.

The U.S. Labor Department reported that nonfarm payrolls added 177,000 jobs in April. While this number is lower compared to the previous month’s boost of 228,000, it still surpasses the projected figure of 133,000. The unemployment rate held steady at 4.2%, aligning with earlier forecasts. Investors had previously hoped that weaker employment would prompt the Federal Reserve to cut interest rates—a move that generally favours riskier assets like Bitcoin.

However, the robust job data suggests that the labour market is doing well enough that any cuts to interest rates might be postponed. As a result, market sentiment may begin to shift slightly more towards caution, including the inclination to invest in riskier assets like Bitcoin. Higher interest rates and a stronger dollar could deter investors, who may see Bitcoin as less appealing in this climate.

In addition to bolstered job reports, Bitcoin’s standing in the cryptocurrency market continues to be strong. As of May 2, 2025, it had a solid market dominance at 64.89%, the highest figure since January 2021. The increasing dominance implies that many investors are leaning towards Bitcoin as a more stable option considering the ongoing economic unrest.

Looking at the numbers, CoinMarketCap registers Bitcoin’s price at $97,026.39, showing a slight gain over the past 24 hours. This rise in dominance is significantly attributed to substantial institutional inflows. For instance, the firm Metaplanet recently raised $25 million via bond sales, intending to ramp up its Bitcoin holdings with a target of reaching 100,000 BTC by 2025.

Interestingly, Bitcoin is capturing more attention as some individuals shift their investments away from traditional assets like U.S. treasuries. This growing disinterest in altcoins highlights Bitcoin’s increasing prominence. For context, investment firm Prime Two has discontinued its dealings with Ethereum after six years, now committing itself entirely to Bitcoin amid rising optimism and institutional investments in the cryptocurrency.

Some analysts are noting that Bitcoin’s set supply and solid track record may render it a more reliable choice for long-term value seekers. With global market challenges persisting, Bitcoin’s consistent performance is keeping it in the spotlight for many investors looking for a trustworthy asset.

Disclaimer: Coinspeaker aims for unbiased and transparent reporting. While this article seeks to provide accurate and timely information, it shouldn’t be construed as financial or investment advice. As market conditions can shift rapidly, we advise readers to verify information independently and consult a professional before making any financial commitments based on this content.