Analyst: ETH Strength May Signal BTC Market Share Peak as Capital Flows into Ethereum and Altcoins
According to Jinse Finance, crypto analyst Matthew Hyland stated that if the price of Ethereum continues to rise, Bitcoin's market dominance may have peaked. On Tuesday, Hyland posted on the X platform: "If ETH/BTC shows an upward trend and maintains strong momentum, there is a 99% chance that Bitcoin's market dominance has peaked." Over the past seven days, Bitcoin's dominance has dropped by 1.85%. Crypto trader Ash Crypto explained that this is because "capital is flowing into Ethereum and other altcoins." Generally, an increase in Bitcoin's dominance indicates that investors prefer Bitcoin over altcoins, while a decline in dominance may suggest growing confidence in the broader altcoin ecosystem. Crypto trader Cas Abbe noted that Ethereum is currently in a very clear "bull flag" pattern and is "approaching a breakout."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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