BTC Dominace 🔥
Think of the Bitcoin (BTC) dominance index as a “superhero” in the crypto world that has a huge influence on the altcoin “heroes”. When Bitcoin raises its “sword” called market capitalization, altcoins feel the vibrations too!
This Bitcoin dominance index calculation formula is like a superpower used by Bitcoin:
Bitcoin Dominance Index = (Bitcoin Market Cap / Total Market Cap) × 100
So, when the Bitcoin dominance index number is high, it means that Bitcoin's "superpower" is getting stronger and altcoins must get ready to follow the hero's movement path. However, if Bitcoin's dominance index is low, altcoins have the opportunity to “act” more freely and exert their own influence on the crypto market.
