BITCOIN DOMINANCE VS. ETH/BTC
Is capital rotating out of Bitcoin and into Ethereum?
Bitcoin's share of the crypto market compared with the relative strength of Ethereum measured in Bitcoin.
Bitcoin dominance
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Source: Calculado pelo Trade With Renato
ETH/BTC
0.0313
Source: Calculado pelo Trade With Renato
Data source pending
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We do not display simulated data or estimates in place of the actual observation.
What this chart measures
Two independent measures of capital rotation inside the crypto market.
Why this relationship matters
This is where you see whether money is migrating from Bitcoin into the rest of the market — which has often marked shifts in the phase of the cycle.
How to read it
Dominance falling while ETH/BTC rises is the classic pattern of rotation into altcoins. If both move in the same direction, something else is going on, typically new capital entering everything at once.
When this relationship tends to hold
In the late stages of bull cycles, when capital that has already appreciated in Bitcoin looks for additional risk elsewhere.
When it can break down
Dominance also rises when altcoins collapse without Bitcoin rising at all. It measures share, not absolute strength.
Limitations
Dominance depends on the universe of coins the provider tracks, which changes over time. Very long-run comparisons are affected by this.
SOURCE AND METHODOLOGY
IMPORTANT — METHODOLOGICAL CORRECTION. A chart of "Bitcoin dominance vs. altcoin dominance" produces NO new information, because altcoin dominance is defined as 100% minus Bitcoin dominance. The two lines are mathematical mirrors of one another and the correlation between them is always exactly −1, by construction. Comparing dominance with ETH/BTC, by contrast, crosses two measures built in different ways: one is a share of market capitalization, the other a price ratio. The relationship between them carries real information.
- Bitcoin dominance
- Calculado pelo Trade With Renato · % · daily
Licence: Derivado de fontes citadas
Formula: BTC.D = (capitalização_BTC ÷ capitalização_total) × 100
View at the original source - ETH/BTC
- Calculado pelo Trade With Renato · BTC · daily
Licence: Derivado de fontes citadas
Formula: ETH/BTC = preço_ETH_USD ÷ preço_BTC_USD
View at the original source
CorrelationA statistical measure of how much two series move together, ranging from -1 to +1.Why it matters: It allows relationships that look real to the naked eye to be compared objectively.How to read it: Close to +1: strong co-movement. Close to 0: little linear relationship. Close to -1: strong inverse movement.Common mistake: Calculating correlation on price levels instead of returns. Two series that only rise over the long run will produce a high correlation even with no real relationship — the classic spurious correlation. measures co-movement and does not establish CausalityA relationship in which one variable actually brings about the change in another.Why it matters: It is what most people actually want to know, and it is what correlation does NOT answer.How to read it: Establishing causality requires theory, experiment, or statistical identification — it is not enough to observe two lines rising together.Common mistake: Concluding that A causes B because the correlation is high. Often a third factor moves both, or the relationship is a coincidence of the chosen period.. The relationship shown depends on the macroeconomic regime and may weaken or disappear.