A custom Bitcoin dominance indicator that removes stablecoin market caps to provide a clearer view of Bitcoin's true market dominance compared to alternative cryptocurrencies.
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The indicator calculates Bitcoin's market dominance by first removing the market capitalization of all stablecoins from the total cryptocurrency market. It compares this adjusted dominance metric with the standard Bitcoin dominance (BTC.D) provided by TradingView.
Users can customize the indicator by selecting different tickers and adjusting settings. The calculation considers the total cryptocurrency market cap and subtracts the market value of stablecoins to provide a more accurate representation of Bitcoin's real market position relative to other cryptocurrencies.
Why it may be useful
Traditional market dominance metrics can be misleading due to the significant presence of stablecoins, which are not true cryptocurrencies and have essentially unlimited market caps. By removing stablecoin market values, traders get a more transparent view of Bitcoin's actual market share and comparative strength.
This approach allows investors and traders to make more informed decisions by understanding Bitcoin's genuine market position without the distortion caused by stablecoin valuations. The indicator provides a clearer lens for analyzing cryptocurrency market dynamics and Bitcoin's true competitive position.
When to explore it
The indicator is most useful during periods of significant market fluctuations or when analyzing long-term cryptocurrency market trends. It provides valuable insights for traders looking to understand Bitcoin's relative market position beyond traditional dominance calculations.
Traders should use this indicator when conducting comprehensive market analysis, especially when evaluating Bitcoin's performance against altcoins. It is particularly helpful for swing traders and long-term investors seeking a more nuanced understanding of market composition and Bitcoin's strategic market positioning.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
