A crypto analyst argues that Bitcoin's market dominance has peaked if Ether's price continues its upward trend . Matthew Hyland stated that if ETH breaks bullish and remains bullish against BTC, there is a 99% chance BTC Dominance has topped .
Bitcoin dominance, which measures Bitcoin's share of the market, is at 63.8% . However, Ethereum's surge and growing confidence in altcoins suggest that Bitcoin's dominance may soon peak . Ethereum's rise is supported by daily trading volumes exceeding $33 billion .
While Ethereum remains approximately 39.1% below its all-time high, the increasing ETH/BTC ratio indicates that Ethereum and other altcoins may soon catch up . Additionally, record levels of Ethereum shorts suggest that many investors are betting against Ethereum's price, but the growing ETH/BTC ratio and increasing interest in altcoins indicate that these bets may not pay off in the long run .
Ethereum's rise is also attributed to increasing institutional demand via ETFs . Ethereum led the charge with $296.4 million in inflows, its strongest streak since the U.S. election in November 2024 . ETH now makes up 10.5% of total assets under management (AUM) .
While Bitcoin dominance remains high, altcoins are posting massive gains . This trend suggests that new capital is flowing into the crypto market .
Overall, analysts are closely monitoring Ethereum's performance and the shifting market dynamics, as a continued surge in Ethereum could signal a significant shift in cryptocurrency market dominance.