$BTC BTCBNB refers to the trading pair between Bitcoin (BTC) and Binance Coin (BNB). This pair represents the exchange rate between these two major cryptocurrencies on various trading platforms, most notably Binance, which issues BNB.
In a BTCBNB trading pair, BTC is typically the base currency, and BNB is the quote currency. This means the price indicates how many BNB tokens are needed to buy one Bitcoin. Traders use this pair to speculate on the relative performance of Bitcoin against Binance Coin, or to exchange one for the other.
The value of BTCBNB fluctuates based on market demand and supply for both assets, along with broader crypto market trends. Analyzing this pair often involves considering factors specific to both Bitcoin's overall market dominance and BNB's utility within the Binance ecosystem, including its role in Binance Chain and various DeFi applications.