Abdulrasheed Isiaka  pfp
Abdulrasheed Isiaka
@rasheedmovic
*What is BTC Dominance and how does it affect Altcoins???* BTC Dominance refers to the percentage of the total cryptocurrency market capitalization that is represented by Bitcoin (BTC). It is a key metric used to analyze overall market trends and the performance of Bitcoin relative to other cryptocurrencies (altcoins). *⤷ How BTC Dominance Affects Altcoins* 1. *High BTC Dominance* - *Market Confidence in Bitcoin*: When BTC dominance is high, it indicates that a majority of the money in the cryptocurrency market is flowing into Bitcoin. This often happens during uncertain times, as Bitcoin is seen as the "safe haven" of crypto assets. - *Negative for Altcoins*: High BTC dominance usually results in weaker performance for altcoins, as investors pull funds out of altcoins to buy Bitcoin. This can lead to a decline in altcoin prices. 2. *Low BTC Dominance* - *Altcoin Season*: A decrease in BTC dominance often signals the start of an "altcoin season," where altcoins outperform Bitcoin. This happens beca…
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