Cryptocurrency

BTC dominance hits highest level since July 2022

meaning

Bitcoin Dominance measures BTC’s current share of the global cryptocurrency market capitalization relative to other cryptocurrencies.

quick take

  • Bitcoin’s dominance has reached 41.5% as of January 20, the highest level in six months.
  • Ethereum’s dominance is also rising, currently at 19.4%.
  • Meanwhile, the entire crypto space has a market capitalization of just under $1 trillion.
BTC Dominance: (Source: Glassnode)

meaning

The BTC-ETH dominance metric is an oscillator that tracks macro outperformance trends between the top two crypto assets. It only considers the market cap of Bitcoin relative to the combined market cap of Bitcoin and Ethereum.

quick take

  • Low values ​​and downtrends indicate ETH’s performance above the pink line. This means that ETH has outpaced his BTC since early 2021.
BTC-ETH Market Cap Advantage: (Source: Glassnode)
BTC-ETH Market Cap Advantage: (Source: Glassnode)

Post-BTC dominance has reached its highest level since it first appeared on CryptoSlate in July 2022.

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