Bitcoin Dominance (BTCD) is a ratio that measures the market capitalization of bitcoin (the largest digital asset by market cap) against that of all other cryptocurrencies, or altcoins. It's a ratio calculated by taking the market cap of BTC and dividing it by the market cap of all other altcoins.
Now if you think about the number of ALTS that got released in the market over the last few years, each taking a % of the Money and also, bringing some more in from TradFi, it is easy to see why the Dominance of Bitcoin in the market has subsided and yet, it is truly impressive that it has held its ground since around Sep '21, ranging effectively.
What is also important to note here is where the BTC.D PA was Bitcoin Got to ATH levels - BTC Dominance was NOT at a high
What does this show us ?
That by the time BTC was en route to an ATH, there was enough money coming into the market to take the ALTS up with it, while NOT taking money away from Bitcoin itself.
So, as a result, I Feel that these days, it is Very important to use the BTC.D, ETH.D and OTHERS.D charts alongside the TOTAL, TOTAL2 ^TOTAL3 charts to really Get a clear point of view.
And as a final point, Currently, we see BTC.D climbing well, we are also seeing TOTAL climbing alongside TOTAL3 ( Ex BTC & ETH), So, it is safe to say that the market has once again become desirable to investors. We do need to remain cautious though, as TradFi is not finished trying to save itself.....But the future is ours
Now if you think about the number of ALTS that got released in the market over the last few years, each taking a % of the Money and also, bringing some more in from TradFi, it is easy to see why the Dominance of Bitcoin in the market has subsided and yet, it is truly impressive that it has held its ground since around Sep '21, ranging effectively.
What is also important to note here is where the BTC.D PA was Bitcoin Got to ATH levels - BTC Dominance was NOT at a high
What does this show us ?
That by the time BTC was en route to an ATH, there was enough money coming into the market to take the ALTS up with it, while NOT taking money away from Bitcoin itself.
So, as a result, I Feel that these days, it is Very important to use the BTC.D, ETH.D and OTHERS.D charts alongside the TOTAL, TOTAL2 ^TOTAL3 charts to really Get a clear point of view.
And as a final point, Currently, we see BTC.D climbing well, we are also seeing TOTAL climbing alongside TOTAL3 ( Ex BTC & ETH), So, it is safe to say that the market has once again become desirable to investors. We do need to remain cautious though, as TradFi is not finished trying to save itself.....But the future is ours