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Analyst: ETH Strength May Indicate BTC Market Dominance Peak, Market Funds Flowing into Ethereum and Altcoins
Summary: According to Cointelegraph, crypto analyst Matthew Hyland suggests that if Ethereum continues to rise, Bitcoin's market dominance may have peaked. Hyland stated on X platform on Tuesday that if ETH maintains its strong uptrend against BTC, the likelihood of Bitcoin's market dominance peaking is as high as 99%. In the past 7 days, Bitcoin's market ...
According to Cointelegraph, crypto analyst Matthew Hyland suggests that if Ethereum continues to rise, Bitcoin's market dominance may have peaked. Hyland stated on X platform on Tuesday that if ETH maintains its strong uptrend against BTC, the likelihood of Bitcoin's market dominance peaking is as high as 99%. In the past 7 days, Bitcoin's market dominance has dropped by 1.85%, with crypto trader Ash Crypto attributing this to funds flowing into Ethereum and other altcoins. Typically, an increase in Bitcoin's market dominance indicates investors favoring Bitcoin over altcoins, while a decrease in dominance may signal increased market confidence in a wider altcoin ecosystem. Crypto trader Cas Abbe noted that Ethereum is currently in a very clear bullish flag pattern and is approaching a breakout.
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Link: Analyst: ETH Strength May Indicate BTC Market Dominance Peak, Market Funds Flowing into Ethereum and Altcoins [Copy]
