Bitcoin Dominance

Bitcoin dominance is a metric that measures the market capitalization of Bitcoin (BTC) relative to the total market capitalization of all cryptocurrencies. It is calculated by dividing Bitcoin's market cap by the total market cap of the entire cryptocurrency market and expressing it as a percentage.

Bitcoin dominance provides insights into Bitcoin's market share and influence within the broader cryptocurrency space. A high Bitcoin dominance percentage indicates that Bitcoin holds a significant portion of the total cryptocurrency market value, often signalling a market trend where Bitcoin's performance has a strong impact on the overall market sentiment. Conversely, a lower Bitcoin dominance percentage suggests a more diversified market where alternative cryptocurrencies (altcoins) may be gaining traction and market share relative to Bitcoin.

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