BTC dominance hits highest level since July 2022

Definition Bitcoin dominance measures BTC’s current share of the global crypto market cap versus other cryptocurrencies. Quick Take Bitcoin dominance has hit 41.5% as of Jan. 20 — the highest level over six months. Ethereum dominance is also up and currently stands at 19.4%. Meanwhile, the market cap for the entire crypto space sits at […]

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Definition

Bitcoin dominance measures BTC’s current share of the global crypto market cap versus other cryptocurrencies.

Quick Take

  • Bitcoin dominance has hit 41.5% as of Jan. 20 — the highest level over six months.
  • Ethereum dominance is also up and currently stands at 19.4%.
  • Meanwhile, the market cap for the entire crypto space sits at just under $1 trillion.
BTC Dominance: (Source: Glassnode)
BTC Dominance: (Source: Glassnode)

Definition

The BTC-ETH Dominance metric is an oscillator that tracks the macro outperformance trends between the top two crypto-assets. It considers only Bitcoin’s market cap relative to the combined market cap of Bitcoin plus Ethereum.

Quick Take

  • Lower values and downtrends indicate an outperformance of ETH over the pink line. This means ETH has been outperforming BTC since early 2021.
BTC-ETH Market Cap Dominance: (Source: Glassnode)
BTC-ETH Market Cap Dominance: (Source: Glassnode)

The post BTC dominance hits highest level since July 2022 appeared first on CryptoSlate.

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