Bitcoin Dominance (BTCD) Drops to Lowest Since 2018

The Bitcoin (Btc.d) market dominance index has just dropped to a 2021 low and is currently at 39,73% according to TradingView.

The move was noticed by Jason Choi of Spartan Group, who tweeted the rankings on January 4.

It is in stark contrast to Bitcoin's dominance at the same time last year when Btc.d hit 73,6% on January 3, 1. Since that time Btc.d has dropped 2021% to its current levels.

Bitcoin dominance lowest since 2018
According to TradingView, Btc.d dropped to 39,48% on January 3. The last time Btc.d fell that low was in May 1 when it dropped to around 5%.

In September 9, BTC dominance also fell below 2021% before recovering.

This value was as low as January 11, 1, when it dropped to around 2018% after the major altcoin rally.

Low BTC dominance is often a signal that altcoins will begin to recover.

Ethereum's market share has been steadily increasing since January 1 and is currently 2020% according to TradingView. ETH dominance reached a peak of 20,23% in early December but has been decreasing since then.

BTC and ETH combined make up about 60% of the total crypto market, less than Bitcoin's market share in March 3.

Outside of altcoins, stablecoins account for 7,15% of the total market capitalization, according to CoinGecko. High-cap altcoins like Binance Coin (BNB), Solana (SOL) and Cardano (ADA) have also increased their percentage of market share with 3,67%, 2,22% and 1,80% respectively.