Bitcoin Blasts Past $100K Again as Market Dominance Hits 3-Year High
Bitcoin has surged past the $100,000 milestone for the third time in its history, but this time the rally is being driven by more than just investor excitement—Bitcoin's growing dominance over the broader crypto market is painting a markedly different picture.
On May 8 at 3:22 pm UTC, Bitcoin (BTC) soared to $100,807, climbing 4.2% from its intraday low of $95,967. This marks the first time BTC has reclaimed six figures since January, yet it arrives under a new backdrop of market conditions: Bitcoin dominance has surpassed 60% for the first time since early 2021.
Shift in Market Tone: Altcoins Struggle as BTC Shines
Previous runs to $100,000—first in December 2024 and again in January 2025—occurred while BTC's market dominance hovered in the low-50% range. This latest breakout, however, sees BTC commanding a much larger share of the total crypto market cap, reflecting a potential shift away from altcoins and toward Bitcoin as a perceived safe haven.
Bitcoin’s rising dominance—up from 52% in December and 54% in January—signals stronger investor confidence in BTC over riskier digital assets. Analysts say the trend aligns with growing global uncertainty and Bitcoin’s increasingly favorable comparison to gold.
"Bitcoin’s resilience in the face of geopolitical turmoil and macroeconomic pressures shows it’s maturing into a true store of value," said Petr Kozyakov. "We're seeing it behave more like digital gold than ever before."
Catalysts Behind the Rally
The latest leg of Bitcoin’s rally appears tied to a series of converging macroeconomic and political triggers. A Truth Social post by former President Donald Trump on May 7, hinting at a major U.S.-U.K. trade agreement, injected fresh optimism into markets. In parallel, falling U.S. bond yields, a weakening dollar, and nearly $2 billion in net inflows to spot Bitcoin ETFs have amplified upward pressure on BTC prices.
But the rally's staying power is not guaranteed. Analysts warn that key upcoming economic indicators—like U.S. budget figures on May 12 and inflation data on May 13—could determine whether Bitcoin holds its ground or retreats.
What’s Next: A Run to $110K?
Some market observers believe Bitcoin’s momentum is far from over. Ben Caselin, CMO at VALR, sees the potential for BTC to surpass $110,000 in the near term as the four-year cycle matures.
Bitcoin’s longer-term trajectory could be supported by increasing adoption of crypto reserve strategies and ongoing global regulatory clarity—factors that may fuel sustained growth well into 2026.