What bitcoin dominance is
Bitcoin dominance (often written BTC.D) is Bitcoin’s share of the total cryptocurrency market:
Bitcoin dominance = Bitcoin market cap ÷ total crypto market cap × 100
If Bitcoin is worth $1.2 trillion and the whole market $2 trillion, dominance is 60%. It rises when money flows into Bitcoin faster than into everything else, and falls when altcoins grow faster.
Reading dominance with total market cap
Dominance alone can mislead, because it falls both when altcoins rally and when Bitcoin crashes. Read it alongside the total market cap:
| BTC dominance | Total market cap | Usual reading |
|---|---|---|
| Rising | Rising | Bitcoin leads the rally; altcoins lag. |
| Falling | Rising | Money rotating into altcoins: altcoin season conditions. |
| Rising | Falling | Risk-off: altcoins falling harder than Bitcoin. |
| Falling | Falling | Broad sell-off, sometimes with money parked in stablecoins. |
Stablecoins skew the number. Stablecoins count in the total market cap, so when traders move into stablecoins, Bitcoin dominance can fall even though no altcoin is rallying. Many traders also watch dominance excluding stablecoins for that reason.
What is altcoin season?
Altcoin season is a period when most altcoins outperform Bitcoin. A widely used definition, from the Altcoin Season Index, calls it altcoin season when 75% of the top 50 coins have outperformed Bitcoin over the last 90 days, and Bitcoin season when 25% or fewer have.
What dominance level means altcoin season?
There is no fixed number. Altcoin seasons have historically started after Bitcoin dominance peaked and then broke down while the total market kept rising. In early 2021, for example, dominance fell from around 70% to around 40% within a few months while altcoins rallied hard. The direction and speed of the move matter more than any single level.
How traders use it
- Bias: rising dominance favours Bitcoin and large caps; falling dominance with a rising market favours altcoins.
- Selection: in altcoin rotations, coins with rising price and rising open interest show where new money is going.
- Caution: late-stage altcoin rallies often bring pump and dumps and extreme funding.
Altcoins outperforming
Altcoins in uptrends with new positions behind the move.
See today’s strongest perps on the Binance futures top gainers board.
Frequently asked questions
What is bitcoin dominance?
Bitcoin’s share of the total crypto market cap, calculated as Bitcoin’s market cap divided by the total crypto market cap. It shows whether money is flowing into Bitcoin or into altcoins.
What bitcoin dominance signals altcoin season?
There is no fixed level. Altcoin seasons usually follow a peak and breakdown in dominance while the total market cap keeps rising.
What is the altcoin season index?
A measure of how many of the top 50 coins outperformed Bitcoin over the last 90 days. At 75% or more it is considered altcoin season; at 25% or less, Bitcoin season.
Crypto futures are leveraged and carry a high risk of loss. This guide is educational and is not investment advice.