Understanding the TOTAL2 / BTCUSD Chart: Altcoin Strength vs. Bitcoin
If you’re trying to measure how strong altcoins are compared to Bitcoin, the TOTAL2 / BTCUSD chart is one of the best visual tools available.
What is This Chart Showing?
This TradingView chart displays:
TOTAL2 ÷ BTCUSD
Where:
- TOTAL2 is the total crypto market cap excluding Bitcoin (also called the altcoin market cap).
- BTCUSD is the price of Bitcoin in US dollars.
By dividing the altcoin market cap by Bitcoin’s price, the chart shows how much capital is flowing into the altcoin space relative to the price of a single Bitcoin.
Why Is This Ratio Useful?
This ratio gives you a macro view of altcoin strength:
- 📈 If the chart is going up: It means altcoins are gaining value faster than Bitcoin — even if BTC is rising, altcoins are rising faster.
- 📉 If the chart is going down: It means altcoins are losing ground relative to Bitcoin, which usually indicates capital is rotating back into BTC or exiting altcoins.
It’s especially useful during:
- Bull runs, to identify when altcoins begin to outperform (commonly known as “altseason”).
- Bear markets, to see whether BTC is holding dominance while altcoins bleed out.
Use Cases for Traders & Investors
- Rotation timing: Use the chart to gauge when to rotate from BTC into altcoins or vice versa.
- Market health: A healthy rise in this chart often suggests broad participation in the market rally.
- Divergence spotting: If BTC is rising but this chart is falling, it may suggest that the rally is BTC-only — a potential warning sign.
Final Thoughts
The TOTAL2 / BTCUSD chart is an underused but incredibly insightful tool. It doesn’t just show you market caps or prices — it shows the relationship between Bitcoin and the rest of the market.
If you’re serious about understanding crypto market cycles, this is a chart you’ll want to keep on your dashboard.
