As the bitcoin price soars bitcoin s real crypto market dominance is revealed bitcoin surpassed the top of the trendline of the chart shared by jason williams the co founder of morgan. We calculate bitcoin dominance by dividing the total cryptocurrency market cap with the market cap of bitcoin. Since it is the largest cryptocurrency by market cap bitcoin dominance is a useful metric that shows us if confidence in more speculative altcoins is growing or falling.
The bitcoin dominance metric shows how much of the total cryptocurrency market cap is represented by bitcoin. Total market capitalization is 148 74 b. The btc price is 8 259 63.
According to coinmarketcap btc now dominates 66 45 of the market. Bitcoin dominance is a percentage of the total cryptocurrency market capitalization attributable to bitcoin. Charts cointrader pro allows you to make tradingview charts of all possible cryptocurrencies for free.
Why is there an option to include disable ethereum. As an alternative to coin market cap where all coins are shown bitcoin dominance only tracks the coins that are attempting to be used as a medium of exchange i e. The real bitcoin dominance index matters because there is currently no easy way to track proof of work coins only.
24 1 are altcoins more reliable. The resistance line of the descending channel ma100 the. Bitcoin s dominance has grown slightly over the past couple of days by bullish div on rsi but we see that altcoins on its support levels and on the domination chart btc has come close to the resistance.
Cryptocurrency combined market cap charts bitcoin dominance charts and more. If we take a look on btc d daily chart we can see a sideways consolidation for almost a year which usually suggests a corrective movement. We will also show you how it can be useful in analyzing xxx btc cross pairs with the help of ew.
Today we will talk about bitcoin dominance and its wave structure from elliott wave perspective.
