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The cryptocurrency market has recently staged an explosive “king returns” rally! Bitcoin (BTC) has strongly settled and held above the $81,000 level, steadily occupying the market’s core and taking a leading role. Its market cap share has climbed continuously, reaching 61%, the highest level since November 2025. The overall market landscape is showing a hot trend of “one coin dominating, funds flocking to it.”

In recent times, BTC’s rise has been nothing short of an “unstoppable” momentum. Since kicking off its rebound from the April lows, BTC has swept through multiple obstacles, with a cumulative gain of over 16%. In early May, it broke through the key psychological level of $80,000 in one fell swoop. After that, it firmly held above $81,000. Its intraday high reached $81,795. Over the past week, it has risen 7.04%, setting a new three-month high. This upswing is absolutely not a coincidence—it is the result of multiple positive catalysts resonating together. US spot Bitcoin ETFs have continued to stage a “capital-attracting spectacle,” achieving net inflows for consecutive weeks. Even just in the most recent week, the inflow exceeded $150 million. Institutional funds are rushing in, providing strong support for the coin price. Against the backdrop of tense global geopolitical conditions, BTC has demonstrated strong resilience and staying power, becoming a “favorite” for risk-averse capital. This has attracted large amounts of funds flowing in from both traditional markets and altcoin markets.

What is most striking is the strong climb in BTC’s market cap share. A 61% share means that more than 60% of the funds in the crypto market have concentrated in BTC, forming an extreme “the strong get stronger” pattern. Compared with the market slump at the end of 2025, BTC has now fully shaken off the shadow of range-bound trading and regained absolute say over the market. Meanwhile, the altcoin market is in a “bleeding” state—most coins are moving in a relatively flat manner, and the trend of investors clustering their funds around BTC has become even more obvious. Behind this picture lies a shared view among institutions and retail investors: when market uncertainty intensifies, BTC as the “head” of crypto assets, with both hedging and appreciation attributes, is the top choice for capital allocation.

During the rally, the market saw intense bull-bear games and staged a “short squeeze” drama. When BTC broke above $80,000 in early May, more than $116 million in shorts were liquidated within one hour. Short sellers’ sell-pressure was greatly swept away. The funding rate remained negative for 66 consecutive days, with shorts continuously paying, causing the risk of a short squeeze to build up further—ultimately providing additional momentum to push the coin price higher. At the same time, market sentiment rapidly warmed up. The “Crypto Fear and Greed Index” significantly moved away from the “extreme fear” range. Investor optimism has surged, and expectations for BTC to push into higher price levels are running high.

At the current stage, with BTC holding above $81,000 and its market cap share surpassing 61%, it is not only a breakout in the short term, but also a renewed reinforcement of the market’s consensus on BTC’s value. Multiple tailwinds—continued institutional inflows, rising demand for hedging, and a gradually clearer regulatory environment—provide strong support for BTC’s next leg. However, differences remain in the market. Some analysts believe this leg higher is driven more by derivatives trading and short covering, and investors should be alert to the risk of pullbacks at high levels. Still, it cannot be denied that BTC has regained control of the crypto market’s rhythm. This is a powerful rally belonging to the “leader” of the coin world, and it will continue to affect the nerves of global crypto investors.