According to TechFlow, on October 16, Cointelegraph reported that as the price of cryptocurrencies continued to rise, Bitcoin's market share has reached its highest level since April 2021. TradingView data showed that early this morning, Bitcoin's dominance reached its highest point in three and a half years, or 58.77%. At the same time, the price of Bitcoin hit a 10-week high of $67,800.

Analyst Benjamin Cowen predicts that Bitcoin dominance will peak at 60%, while investor "Coach K Crypto" believes that the dominance of this cycle has already peaked and expects that altcoins may rise next.