Bitcoin Hits $100,000: Dominance Soars as Bitcoin Rallies

Bitcoin has reclaimed the $100,000 mark for the first time since January 2025. Reaching $101,075 on May 8th at 3:22 pm UTC, this milestone signifies a powerful bullish momentum. The rally is fueled by factors such as expanded DeFi applications, increased institutional investment, and geopolitical news impacting market sentiment. Bitcoin’s dominance in the cryptocurrency market has surged beyond 60%, reaching levels last seen in early 2021, signaling an increasing preference for Bitcoin over other cryptocurrencies. This surge in dominance suggests altcoins may underperform in the near future as capital flows consolidate around Bitcoin.