What is Bitcoin Dominance Index?
The Bitcoin Dominance Index is a ratio of the Bitcoin market cap
compared to the whole cryptocurrencies market cap.How to read the Bitcoin Dominance Index?
It gives a quick hint on how Bitcoin market cap is performing against other crypto market caps, and this is how is calculated:
BTC Dominance = (BTC Market Cap / ALL-CRYPTO Market Cap)%
The same formula can be used to know the dominance of every cryptocurrency.
Overall the BTC dominance can be affected by the commonly known Alt seasons,
but not always reflect the down or up trend of the BTC.