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Crypto analyst Matthew Hyland says that Bitcoin’s market dominance has reached its peak if the price of Ether continues its upward trend.
“If ETH breaks bullish and remains bullish against BTC there is a 99% chance BTC Dominance has topped,” Hyland said in an X post on Tuesday.
“Impossible” for BTC dominance to spike if ETH pattern holds
“It is basically impossible for Dominance to push higher if ETH continues higher against BTC,” Hyland added.
Bitcoin
BTC $119,181 dominance — a measure of Bitcoin's share of the market — is at 63.82% at the time of publication, up 9.89% since.
Over the past seven days, it is down 1.85%, which crypto trader Ash Crypto said is because “money flowing into ETH & altcoins.”