Bitcoin dominance — a measure of how much of the crypto market’s total value belongs to BTC — has rebounded as the asset hit a six-figure all-time high on Dec. 5, while most altcoins failed to shadow its gains. 

Bitcoin ( BTC ) dominance recovered 4.4% over the past day, topping 57% as the asset surged to a record high of $104,000 on Dec. 5, according to TradingView. 

Bitcoin’s market share had slid 11.5% from a three-and-a-half-year high of 61.8% on Nov. 21 to bottom out at 54.7% on Dec. 4 before its new rebound.

“Almost like BTC was jealous that altcoins were getting all the attention and wanted to remind everyone it’s still king,” commented analyst Income Sharks in a Dec. 5 post on X. 

Altcoins had been on fire for the past week, with all-time highs for BNB ( BNB ), Tron ( TRX ), and XRP ( XRP ) hitting a seven-year high, while Bitcoin remained in consolidation around the $95,000 level, causing the plunge in BTC dominance.

However, that all changed when BTC exploded into six-figure territory during early trading on Dec. 5. 

Bitcoin dominance bounces back to 57% as BTC punches to $104K image 0

Bitcoin dominance (BTC.D). Source: TradingView

The Bitcoin Fear Greed Index, which analyzes market sentiment, is currently at an “extreme greed” level of 84. However, it spiked to 94 — its highest level since December 2020 — on Nov. 22, when Bitcoin hit an all-time high of $99,000.

Social sentiment has also surged, with Google Trends reporting Dec. 5 saw the biggest spike in searches for Bitcoin in the last week. 

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Worldwide searches for ‘Bitcoin’ on Google. Source: Google Trends

Meanwhile, there were $132 million in short position liquidations over the past four hours, according to CoinGlass.

Related: Bitcoin dominance hints at ‘altseason,’ analysts eye XRP price rally into 2025

Industry executives and analysts have been celebrating Bitcoin’s “$100K Day” with Coinbase CEO Brian Armstrong stating , “If you bought $100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about $1,500,000.”

“If you kept the $100 USD you’d only be able to purchase about $73 worth of goods today,” he said before adding: 

“Bitcoin is the best-performing asset of the last 12 years, and it’s still early days.”

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