Bitcoin Dominance ‘Crash’ Sparks Altcoin Frenzy, But Traders Spot One Major Problem

Bitcoin’s share of the crypto market appeared to collapse from 60% to 24% on TradingView on Monday. It did not happen. The charting site’s own market total had broken. The glitch gave the impression that a huge altcoin rally would begin. Altcoins are every cryptocurrency except Bitcoin (BTC), and their holders were reading a false signal. How A Broken Chart Looks Like an Altcoin Boom Bitcoin dominance is Bitcoin’s slice of the whole crypto market’s value. When it falls, money is usually flowing into other coins. Traders call that altcoin season. TradingView builds its market total from the 125 largest coins, according to its support page. Dominance is Bitcoin’s value divided by that total. On Monday, that total suddenly jumped above $6 trillion.

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