Bitcoin Dominance (BTCD)

TradingKeyTue, Apr 15

Bitcoin Dominance (BTCD) is a metric that assesses the market capitalization of bitcoin, the largest digital asset by market cap, in relation to the market capitalization of all other cryptocurrencies, known as altcoins.

This ratio is determined by dividing the market cap of BTC by the combined market cap of all other altcoins.

Crypto traders utilize bitcoin dominance as an indicator to adjust their trading strategies accordingly.

Throughout the history of the cryptocurrency market, traders have identified specific trends in bitcoin's price movements and the fluctuations in bitcoin dominance.

These trends serve as indicators of the potential for a bitcoin bull market, an altcoin bull market, an altcoin bear market, or a bear market across the entire cryptocurrency landscape, depending on the circumstances.

Bitcoin Dominance can be monitored on the Tradingview chart labeled BTC.D.

Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

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