What is Bitcoin Dominance?

Bitcoin dominance refers to the percentage of the total cryptocurrency market capitalization that is comprised of Bitcoin. This metric is used to gauge Bitcoin's market strength and influence relative to all other cryptocurrencies combined. A high Bitcoin dominance indicates that Bitcoin holds a major share of the market, suggesting that it has significant influence over market trends and investor sentiment. Conversely, when Bitcoin dominance falls, it often means that altcoins are gaining market share and investor interest. This metric can help investors understand the market dynamics and make informed decisions about diversifying their cryptocurrency investments. For a deeper understanding of Bitcoin dominance, its calculation, and its implications for traders and investors, this article provides thorough insights: https://paybis.com/blog/glossary/what-is-bitcoin-dominance/ It explores how changes in Bitcoin dominance reflect broader market movements and what it means for the cryptocurrency ecosystem.