Bitcoin Dominance (BTCD)

Bitcoin dominance (BTCD) is a measure utilized to assess the market capitalization of bitcoin (BTC) in relation to the collective market capitalization of all other cryptocurrencies. BTC, being the largest cryptocurrency globally, serves as the benchmark. BTCD is often viewed as having a connection to the performance of Ethereum and other alternative cryptocurrencies, commonly referred to as altcoins. Typically, a decrease in BTCD indicates a rise in the value of other cryptocurrencies, which is frequently referred to as an “alt season.” Conversely, when BTCD increases, BTC tends to outshine other cryptocurrencies in terms of performance.