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 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.

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