According to data from The Block, Bitcoin's market share has reached a high of 57% so far this year, reflecting the increasing share of Bitcoin in the total market capitalization of cryptocurrencies. The Block analysts noted that in the previous cycle, Bitcoin's dominance fell to as low as 39%, which coincided with the DeFi boom and the subsequent altcoin rebound. The current dominance of 57%, combined with Bitcoin's strong price, may indicate that the market is at the beginning of this cycle, and BTC is entering a price discovery phase.