ChainCatcher news, according to CoinDesk, FxPro’s senior market analyst Alex Kuptsikevich pointed out that BTC’s share in the crypto market has exceeded 60%, which is typically a typical behavior during times of panic, while Ethereum’s market share has dropped to its lowest in five years at 9%, which is a worrying signal for AltCoin investors as most of the inflows are going towards BTC.
Kuptsikevich stated in an email to CoinDesk: “BTC continues to hover near the 200-day moving average, bouncing back briefly below $83,000 on Tuesday. The early market dynamics on Wednesday reflect signs of cautious attempts to form a bottom.” He added: “Returning to the $97,000 area above the 50-day moving average will be a sign of a successful bull market.”
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