Bitcoin reached a record $97,862.64 as Ethereum continued to lag, with ETH/BTC falling to the lowest level this year. This raises questions about altcoin future in the crypto market.
Bitcoin Dominance Rises
According to CoinMarketCap, BTC's market share surged to 60.5%, a significant rise of over 3% in a month. Institutional investments played a big part in this trend. Edul Patel, CEO of Mudrex, noted in an interview with IndiaToday that increasing institutional investment and political changes, such as Donald Trump's election, have significantly impacted the crypto market.
Can Ethereum regain its pace?
ETH's dominance has fallen to 11.8%. Charts show ETH's struggle against BTC. The MACD indicator shows struggles with key resistance levels.
Future Prospects for Ethereum
ETH's future depends on factors like advances in Layer-2 solutions and DeFi activities. Technical analysis shows support at 0.057 BTC and resistance at 0.065 BTC and 0.070 BTC. Overcoming these levels may allow Ethereum to regain its ground relative to Bitcoin.
Ethereum's market recovery relies on breaking current resistance levels and successfully implementing network upgrades to regain its position relative to Bitcoin.
