Bitcoin's dominance suffers after BTC stalls while some altcoins surge. Tezos's 17% increase since yesterday means that XTZ reached a
Bitcoin Dominance is one of the most popular tracking metrics. It shows Bitcoin’s total market capitalization relative to the entire market, or in other words, relative to the altcoins.
When Bitcoin price increases, if the Bitcoin dominance is increasing as well, then the price gains of Bitcoin is also the result of altcoins’ sell-off.
And vice versa: if the Bitcoin dominance is steady or decreasing while Bitcoin price is increasing, then we can conclude that new money is entering the crypto markets.
As of writing these lines, Bitcoin dominance has been at its lowest value at the beginning of 2018, amid the parabolic crypto bubble, which saw its price reaching the current all-time high of nearly $20,000. Back then, BTC accounted for about 32% of the total market cap, while Ethereum accounted for a whopping 18%, followed by XRP.
Somewhat expectedly, Bitcoin’s dominance was at its peak back in 2013 when it stood at above 96%. However, it’s worth noting that a lot of the cryptocurrencies that exist today didn’t exist back then.
This equals Bitcoin market cap as a percentage of the total market cap.
Recent Bitcoin Dominance News
Bitcoin marches confidently above $11,600, while most large-cap altcoins remain stagnant. Price action is visible among low-cap alts, after listings
Ethereum, Ripple, and Tezos continued charting increases. Chainlink marked yet another all-time high. Bitcoin remained relatively stable and has its
After feeling the pressure of yesterday's $1,600 price drop, BTC has calmed. Some altcoins are taking advantage and have reduced
Bitcoin's decisive price jump towards $11,000 has increased speculations of a significant bull-run in the making. In contrast, a popular
Bitcoin passed by the $10,000 level and has increased its dominance over the cryptocurrency market to 61.4%. Gold's price continued
Bitcoin's dominance has dropped to its lowest point in over year, despite BTC rising this week, thus perhaps confirming the
Bitcoin has pushed onwards to $9,500 and most altcoins have followed with some impressive gains. If Bitcoin continues its upwards
The largest cryptocurrency by market cap hasn't moved outside of its tight trading range for over a week, while low-cap
Wall Street marks gains after news of a coronavirus vaccine. Most altcoins are also going up. Bitcoin remains stagnant as