Insights

BTC dominance hits highest level since July 2022

exchange68September 13, 2024

0 0 1 minute read

Definition

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

Quick Take

Bitcoin dominance has hit 44.3% as of Jan. 21 — 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.

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)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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