Bitcoin dominance in the cryptocurrency market has reached approximately 60.6% in February, the highest level since 2021. This metric experienced significant fluctuations in the past, with Bitcoin's market share declining to as low as 41% in 2017. However, it has been steadily recovering due to various factors such as the launch of Bitcoin exchange-traded funds, increased adoption by financial institutions, and recognition as a store of value. Cryptocurrency trader Willy Woo believes that the decline in Bitcoin dominance in the past was caused by venture capitalists investing in ICOs, DeFi rug pulls, and meme coin pump and dumps. Bitcoin's current dominance is seen as a return to its proper equilibrium. Currently, Bitcoin is trading at $96,660, with a small rise of less than 1% after a slight overnight drop.



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