Fast Take
The ETH/BTC ratio, a vital indicator within the crypto market, precariously teeters at 0.060, signaling a possible paradigm shift out there’s dynamics.
With the BTC/ETH dominance ratio standing at -0.04, the market is evidently nonetheless in an ETH-dominant section, albeit quickly declining. The info implies a cyclical sample the place ETH sometimes manifests an amplified dominance throughout bullish market eventualities, corroborating its larger beta attribute.
Nonetheless, historic knowledge reveals a contrasting pattern throughout bear markets, as evidenced in 2016 and 2019. Bitcoin ascended to a dominant place throughout these durations, surpassing the inexperienced line indicator.
BTC/ETH Market Cap Dominance: (Supply: Glassnode)
The put up ETH dominance on shaky grounds as BTC prepares for potential upturn appeared first on CryptoSlate.
Source link
