What is Bitcoin dominance?
Bitcoin dominance is Bitcoin’s market cap divided by the market cap of all cryptocurrencies. It tells you how much of the money in crypto sits in BTC compared with everything else.
Why it matters
When dominance rises, investors usually prefer the relative safety of Bitcoin and altcoins underperform. When dominance falls quickly, money is rotating into Ethereum and smaller coins — the classic start of an “altcoin season”. Stablecoins such as USDT and USDC are part of the total, so in a sell-off their share can rise as people move to cash.