What’s bitcoin dominance?
Bitcoin dominance refers to the percentage of the total cryptocurrency market capitalization that is represented by Bitcoin. It’s a measure of Bitcoin's relative size compared to all other cryptocurrencies combined. For example, if Bitcoin's dominance is 60%, it means that Bitcoin's market value accounts for 60% of the entire cryptocurrency market, while the other 40% is made up of altcoins (other cryptocurrencies).
Bitcoin dominance is often used as an indicator of Bitcoin's market strength or influence relative to altcoins. When Bitcoin dominance is high, it suggests that Bitcoin is leading the market in terms of growth or stability, while a decrease in dominance may signal that altcoins are gaining traction.
