Bitcoin’s Dominance Grows To 70% Following Massive Volatility Around $40K (Market Watch)
Most alternative coins are buried in red after the latest gains and BTC's dominance has expanded to 71%, despite bitcoin's
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.
Most alternative coins are buried in red after the latest gains and BTC's dominance has expanded to 71%, despite bitcoin's
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The crypto market cap spikes above $700 billion, while BTC's dominance rises to over 70% as altcoins can't catch up
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Bitcoin's total market capitalization reached an all-time high today, surpassing the former peak from 2017. This is due to the
While BTC has rallied to yet another fresh yearly high, this time touching the $16,500 mark, the altcoins have stood
The cryptocurrency market cycles show how quickly can things change. Although Bitcoin is surging now to new highs, could another
Bitcoin's dominance spiked to its highest level since June 2020, as its price sees another record north of $14,500.
The crypto market cap has lost over $10 billion in a day as Bitcoin dipped to $13,500 and most altcoins