BITCOIN DOMINANCE VS. TOTAL2/BTC
Are altcoins as a group gaining on or losing to Bitcoin?
Bitcoin's market share compared with the market capitalization of all altcoins measured in Bitcoin.
Bitcoin dominance
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Source: Calculado pelo Trade With Renato
TOTAL2 measured in Bitcoin
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Source: Calculado pelo Trade With Renato
Data source pending
This chart is not shown yet because the series Bitcoin dominance and TOTAL2 measured in Bitcoin depend on a licensed provider that has not been contracted yet. The integration is already in place, and the chart starts working as soon as the source is configured.
We do not display simulated data or estimates in place of the actual observation.
What this chart measures
The strength of altcoins as a group measured in the market's own reference currency, rather than in U.S. dollars.
Why this relationship matters
Measuring altcoins in Bitcoin removes the market's overall direction. When everything rises in dollar terms, this measure shows who is actually gaining.
How to read it
TOTAL2/BTC rising means altcoins outperforming Bitcoin. Compare it with dominance to confirm: the two should tell the same story.
When this relationship tends to hold
At transitions between phases of the cycle, when capital rotates between segments of the market.
When it can break down
Altcoin market capitalization is inflated by low-liquidity, high-nominal-value tokens. TOTAL2 overstates the strength of the segment.
Limitations
It depends on the provider's universe of coins. Tokens with poorly measured circulating supply distort TOTAL2.
SOURCE AND METHODOLOGY
TOTAL2 = total crypto market capitalization − Bitcoin market capitalization. TOTAL2/BTC = TOTAL2 ÷ the price of Bitcoin. No provider offers TOTAL2 as an endpoint: it is always derived, and the calculation is documented here. As on the previous chart, we deliberately avoid the pair "BTC dominance vs. altcoin dominance", which is a mathematical mirror carrying no new 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 - TOTAL2 measured in Bitcoin
- Calculado pelo Trade With Renato · BTC · daily
Licence: Derivado de fontes citadas
Formula: TOTAL2/BTC = TOTAL2 ÷ 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.