At 46%, Bitcoin dominance has reached its current high since October last year. As shown by various data, as recently as January, BTC dominance was below 40 percent. Dominance measures the share of bitcoin market capitalization in total market capitalization. High dominance is a marker and reflection of the downward trend of many altcoins and declining altcoin demand. The fact that the BTC market cap share rises higher in percentage terms indicates risk-averse behavior during weakening market phases.