StarlitFantasy
Mon Jul 15 2024
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8 answers
1569
What is the bitcoin dominance ratio (BTC)?
Could you elaborate on the concept of the Bitcoin Dominance Ratio (BTC)? This metric seems to be a crucial indicator in the cryptocurrency landscape, yet I find its nuances somewhat elusive. Is it a measurement of Bitcoin's market capitalization relative to the total cryptocurrency market cap? How is it calculated, and what does it signify in terms of the broader cryptocurrency ecosystem? Is a high Bitcoin Dominance Ratio indicative of a bullish market for Bitcoin, or does it suggest a lack of diversity in the crypto market? I'd appreciate a concise yet comprehensive explanation of this ratio and its implications.
