Bitcoin's dominance in the cryptocurrency market has reached a new cycle high of 58.91%, largely attributed to ether's underperformance and wider market gains.
The rise in bitcoin dominance is significant as it reflects the cryptocurrency's market share, previously peaking above 70% during the 2020-21 bull market before recently declining.
Currently, the ether/bitcoin ratio has dropped to 0.03850, its weakest since April 2021, indicating significant underperformance of ether compared to bitcoin.
Historically, during previous cycles, the ETH/BTC ratio was at least 200% higher from the cycle lows, yet the present ratio remains 25% below its June 2022 low.
#bitcoin-dominance #ether-underperformance #cryptocurrency-market #market-capitalization #crypto-trends
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