Bitcoin Dominance
Bitcoin Dominance — BTC share of crypto market cap as risk appetite gauge.
Definition
Bitcoin Dominance refers to bTC share of crypto market cap as risk appetite gauge. Keep that definition fixed when comparing series, managers, or regimes — renaming the same tape does not create a new signal.
Why it matters
Crypto liquidity and leverage regimes can gap faster than traditional risk systems assume. When bTC share of crypto market cap as risk appetite gauge shifts, related hedges, limits, and narratives usually need an explicit update rather than a quiet assumption.
Case
Suppose a desk is positioned for the opposite of what bitcoin dominance is saying. If bTC share of crypto market cap as risk appetite gauge moves against that book, the first question is not “is the story clever?” but whether size, hedges, and stop logic still match the observation.
How to read it
Treat venue, leverage, and stablecoin plumbing as first-class risk — not afterthoughts. Prefer a short written null hypothesis for Bitcoin Dominance: what would falsify the current reading in the next window?