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Bitcoin dominance (BTC.D) is Bitcoin’s market capitalization as a percentage of the total crypto market capitalization counted by a data provider. It shows Bitcoin’s relative share of that measured market—not where money flowed and not whether altcoins are about to rise. For altcoin buyers, it is context to check alongside Bitcoin’s price and the relative performance of the assets they are considering.
How Bitcoin dominance is calculated
The usual formula is:
Bitcoin dominance = Bitcoin market capitalization ÷ total crypto market capitalization × 100%
Market capitalization is generally calculated as an asset’s price multiplied by its circulating supply. CoinMarketCap defines circulating market capitalization using a reference price and estimated circulating supply, and its aggregate market cap sums assets that meet its methodology. CoinGecko also uses price multiplied by circulating supply for an asset’s capitalization and aggregates the projects it tracks. See CoinMarketCap’s Bitcoin dominance glossary, its market-capitalization definition, and CoinGecko’s methodology.
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchBecause providers may track different assets and use different supply estimates, prices, or inclusion rules, their BTC.D readings can differ. Compare readings from the same provider and check its methodology and chart settings before drawing conclusions. CoinGecko’s Bitcoin dominance explainer also provides chart context.
What a rising or falling BTC.D can—and cannot—tell you
Rising dominance
A rising BTC.D means Bitcoin’s share of the measured total market cap has increased. It does not prove that investors sold altcoins to buy Bitcoin: Bitcoin’s market cap could have risen, other assets’ market caps could have fallen, or the denominator could have changed.
Falling dominance
A falling BTC.D means Bitcoin’s measured share has declined. That alone does not show that altcoins are gaining value in dollars or that an altcoin rally is under way. The ratio can fall because Bitcoin weakens, because other assets grow faster, or because the market-cap total includes a changing mix of assets.
Rank #2
CoinGecko recommends considering Bitcoin’s price alongside dominance. For a buying decision, also compare the specific altcoin—or a clearly defined basket—with BTC and with a cash or stablecoin reference over the same timeframe. BTC.D describes a market-cap relationship; it does not replace those performance comparisons.
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Why stablecoins matter to the denominator
Stablecoins count toward total crypto market capitalization in CoinGecko’s explanation. If stablecoin capitalization grows, BTC.D can decline even when speculative altcoins are not outperforming. A risk-off shift from crypto assets into stablecoins can therefore reduce Bitcoin’s share without signalling stronger demand for riskier coins. A lower BTC.D is not, by itself, evidence of an “altseason.”
How to check a BTC.D chart before acting
- Identify the provider. Note which service supplies the reading and consult its methodology; asset coverage and supply estimates affect the result.
- Check what the chart counts. Confirm whether it shows Bitcoin’s share of the provider’s total crypto market cap or a narrower measure, and whether stablecoins are included.
- Record the date and timeframe. Dominance changes over time. Historical readings should be tied to their provider and date, not presented as live values.
- Compare relevant prices over the same period. Check Bitcoin’s price and the altcoin or basket you care about against BTC and a cash or stablecoin reference.
- Treat the result as context, not a trigger. A change in the ratio describes relative market-cap share; it does not establish a specific cause or predict future prices.
A historical reading, not a current signal
CoinGecko’s Q2 2025 industry report states that Bitcoin dominance reached 62.1% in Q2 2025. That is a dated, provider-specific historical figure—not a current reading. Because the live chart is volatile, check the provider’s chart for the value at the time you need it rather than relying on an old percentage. See CoinGecko’s Q2 2025 report.
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