Ethereum Eyes $3,000 While Bitcoin Reinforces Dominance: A Quantitative Breakdown
With Ethereum eyeing a key resistance level and Bitcoin holding strong, we dive into the numbers and on-chain data to uncover whether this rally has legs or if the tides are turning in the markets
Bitcoin: A Fortress of Dominance Amid Volatility
Market Dominance: Bitcoin’s market share touched close to 60%, the highest in 40 months, fueled by the rise of Bitcoin ETFs.
Year-to-Date Performance: Bitcoin has grown by 53.67% YTD, while Ethereum has been comparatively underwhelming at 14.90%.
ETH/BTC Ratio: The ETH/BTC ratio had reached a three-year low of 0.0365, indicating a growing preference for Bitcoin among investors.
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