What is Bitcoin's dominance in the copyright market, and how does it influence altcoin prices?

What is Bitcoin's dominance in the copyright market, and how does it influence altcoin prices?

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Bitcoin's dominance, or its percentage of the total copyright market capitalization, is a key metric that significantly influences altcoin prices and provides insights into the broader market's sentiment. Historically, when Bitcoin's dominance is high, it often means capital is flowing into BTC, sometimes at the expense of altcoins, causing their prices to stagnate or even decline. Conversely, a period of decreasing Bitcoin dominance can signal an "altcoin season," where capital rotates from Bitcoin into other cryptocurrencies, leading to substantial gains for them. Currently, Bitcoin's dominance hovers around 52-53%, indicating a mature market where altcoins have established their own ecosystems but are still heavily influenced by Bitcoin's movements. Traders closely watch the bitcoin price today and its dominance chart to inform their portfolio allocation decisions between Bitcoin and altcoins, understanding that BTC often acts as the market's bellwether.