Bitcoin is 60.13% of the market while its own week barely moved. What does that number actually say?
What this is about: Most people read a dominance figure as a mood gauge. Today's btcdominance reading is 60.132696292234, which means Bitcoin accounts for a little over sixty cents of every dollar of crypto market value. It is a share, and a share can move for reasons that have nothing to do with confidence.
What the figure is, and what it is not
• Bitcoin holds steady while everything else falls.
• Bitcoin rises faster than everything else.
• Everything falls, but Bitcoin falls less.
Two readings that are both alive: One reading says money is sheltering in the largest, most liquid asset while the rest of the market is treated as riskier. On that view, a share near 60.13% reflects caution. The other reading says nothing so dramatic is happening.
The line to keep: A high dominance figure describes the split, not the direction: it can rise in a falling market and in a rising one.
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How do you read this one? Answer below.
Follow for a note a day on what the numbers actually say.
$BTC
#TradingPsychology #Crypto #CreviaCockpit
What this is about: Most people read a dominance figure as a mood gauge. Today's btcdominance reading is 60.132696292234, which means Bitcoin accounts for a little over sixty cents of every dollar of crypto market value. It is a share, and a share can move for reasons that have nothing to do with confidence.
What the figure is, and what it is not
• Bitcoin holds steady while everything else falls.
• Bitcoin rises faster than everything else.
• Everything falls, but Bitcoin falls less.
Two readings that are both alive: One reading says money is sheltering in the largest, most liquid asset while the rest of the market is treated as riskier. On that view, a share near 60.13% reflects caution. The other reading says nothing so dramatic is happening.
The line to keep: A high dominance figure describes the split, not the direction: it can rise in a falling market and in a rising one.
Send me a chat with the word CHECK and I will send you the full lesson, free.
Last image: a portfolio on our demo account, sample holdings. Everything you own in one place, in one currency.
How do you read this one? Answer below.
Follow for a note a day on what the numbers actually say.
$BTC
#TradingPsychology #Crypto #CreviaCockpit