How to check for Bitcoin Dominance

Bitcoin dominance refers to the ratio of Bitcoin’s market capitalization to the total market capitalization of all cryptocurrencies. It is an important metric for understanding Bitcoin’s market position relative to other cryptocurrencies. Here’s how you can check Bitcoin dominance:

Using Cryptocurrency Market Websites

1. CoinMarketCap
   • Visit CoinMarketCap.
   • On the homepage, you will see a percentage figure labeled “BTC Dominance” at the top of the page.
   • This figure represents Bitcoin’s market dominance.
2. CoinGecko
   • Go to CoinGecko.
   • Similar to CoinMarketCap, the Bitcoin dominance percentage is displayed on the homepage, typically near the top of the page.
3. TradingView
   • Access TradingView.
   • Use the ticker symbol BTC.D to view Bitcoin dominance charts.
   • TradingView provides detailed charts and tools for technical analysis.

Using Mobile Apps

• Many cryptocurrency mobile apps, such as Blockfolio (now FTX), Delta, or Crypto Pro, provide Bitcoin dominance as part of their market overview features. Make sure to check their respective market data sections.

Understanding Bitcoin Dominance

• Interpretation: A high Bitcoin dominance indicates that Bitcoin has a larger share of the total cryptocurrency market cap, often suggesting investor confidence in Bitcoin over altcoins. Conversely, a low dominance may indicate a growing interest in altcoins.
• Market Trends: Changes in Bitcoin dominance can signal shifts in market trends, such as altcoin seasons when altcoins outperform Bitcoin.

By regularly checking Bitcoin dominance, investors and traders can gain insights into market dynamics and make more informed decisions regarding their cryptocurrency investments.