Analysts: A stronger ETH may indicate that BTC's market share has peaked, and market funds are flowing into Ethereum and altcoin
Internet reports that crypto analyst Matthew Hyland said that if Ethereum prices continue to rise, Bitcoin's market dominance may have peaked. Hyland posted on platform X on Tuesday: "If ETH rises against BTC and maintains a strong trend, then the probability of Bitcoin's market share peaking is as high as 99%." In the past seven days, Bitcoin's market share has fallen by 1.85%, which crypto trader Ash Crypto said is because "money is flowing into Ethereum and other altcoins." Generally speaking, an increase in Bitcoin's market share means that investors prefer Bitcoin to altcoins, while a decline in dominance may indicate increased market confidence in the broader altcoin ecosystem. Crypto trader Cas Abbe said that Ethereum is currently in an extremely obvious "bull flag" pattern and "is approaching a breakthrough."
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