Analyst: ETH's strength may indicate that BTC's market share has peaked, and market funds are flowing into Ethereum and altcoins

Odaily News Crypto analyst Matthew Hyland said that if the price of Ethereum continues to rise, Bitcoin's market dominance may have peaked. "If ETH rises against BTC and maintains a strong trend, there is a 99% chance that Bitcoin's market share has peaked," Hyland wrote on the X platform on Tuesday. In the past 7 days, Bitcoin's market share has fallen by 1.85%, and crypto trader Ash Crypto said this is because "funds are flowing into Ethereum and other altcoins." Generally speaking, an increase in Bitcoin's market share means that investors prefer Bitcoin to altcoins, while a decrease in dominance may indicate that the market has increased confidence in the broader altcoin ecosystem. Crypto trader Cas Abbe said that Ethereum is currently in a very obvious "bull flag" formation, "and is approaching a breakout." (Cointelegraph)