Ethereum Consolidates Against Bitcoin – Dominance Shift On The Horizon?
Ethereum is currently trading above the $1,800 mark, holding strong after weeks of volatility but struggling to reclaim the critical $2,000 resistance level. Bulls have managed to push prices higher, yet momentum must continue building for a full breakout. Analysts are closely watching Ethereum’s movements, noting that the market is preparing for a decisive move that could shape the coming weeks. Global macroeconomic tensions remain a challenge, but optimism is growing across crypto markets. Related Reading: Ethereum Shows 4H Bearish Divergence – Can Bulls Hold $1,750? Top analyst Daan....
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Altcoin season is a phrase that is quite popular throughout the crypto market. The phrase refers to the run-up in the prices of altcoins after the price of bitcoin slows down. The altcoins usually see an uptick in their individual and collective market dominance, taking even more market share from the top cryptocurrency, bitcoin. As the coins become more valuable, their prices soar following the increased market share. An altcoin season usually sees most of the altcoins in the market rallying at the same time. With Ethereum’s price mostly leading the charge once the prices start surging.....
The recent market recovery has seen digital assets such as Bitcoin and Ethereum put on significant amounts of value over the last couple of days. However, there have been some who have been market leaders in this regard, and Ethereum is one of them. The digital asset had rallied upwards due to the announcement that the Merge was happening in September, but that is not the only aspect where the second-largest cryptocurrency in the crypto market had recorded a recovery. Ethereum Steals Market Dominance Ethereum’s rally above $1,500 had seen its market cap grow above $190 billion once more.....
During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped Over the Last Month The crypto bear market has done some damage to the digital currency economy and many continue to wonder if the market carnage will continue. The market has seen a brief consolidation period after the most recent....
Data shows social media discussions related to Ethereum have spiked recently, something that may be positive for the struggling ETH price. Ethereum Social Dominance Has Shot Up Over The Past Day According to data from the analytics firm Santiment, the Ethereum Social Dominance has just seen a significant increase. The “Social Dominance” here refers to […]
BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....