Analysts present new data on Bitcoin's dominance as Ethereum rises. Experts share predictions on market fluctuations.
Bitcoin's Peak Dominance
Analyst Matthew Hyland stated that Bitcoin's dominance has reached its peak. He mentioned, "If ETH continues to rise against BTC, there is a 99% chance BTC dominance has topped."
Rising Ethereum
Ethereum has increased by 19.87% over the past seven days, currently trading at $3,117. Trader Cas Abbe expressed that the asset is in a stage of forming a bullish flag, "and it’s getting closer to a breakout."
Future of Bitcoin
Capriole Investments founder Charles Edwards suggests that after the recent peak, Bitcoin's price may cool off, but he expects an upward trend towards the end of the year. Meanwhile, according to TradingView, the Moving Average indicator signals a "Strong Sell," yet many analysts predict higher prices for the asset by year-end.
The analysis indicates variable trends in the cryptocurrency market, where Ethereum's growth affects Bitcoin's dominance. Experts remain optimistic about further market growth.
