Market sentiment is changing rapidly, with Bitcoin (BTC) and Ethereum (ETH) dominating social trends. Top market analyst Michael van de Poppe said Ethereum could take over these social topics in the future as Bitcoin’s dominance continues to decline.
Investor Focus Shifts As van der Popp noted, Bitcoin’s dominance has stabilized at 58%, setting the tone for Ethereum to take the spotlight. Van der Popp noted that spot Ethereum ETF products will ultimately dictate the narrative as investors look for the next driver of optimism.#以太坊ETF批准预期
Bitcoin hasn’t been doing the market much of late as its price continues to plummet, leading to increased bearish sentiment for other altcoins. As of writing, Bitcoin price is trading up slightly by 0.24% at $61,324.10 after falling to $60,660 in early trading hours. Most altcoins have clearly decoupled from Bitcoin, with the likes of Solana (SOL) outperforming the market as its price surged 9.11% to $138.59. As Bitcoin has failed to rise as desired, the decoupling has spread to the likes of Chainlink (LINK) and Toncoin (TON), which are currently up 5.69% and 5.4% at $14 and $7.612, respectively. Ethereum in Focus The ongoing outflow trend in the spot Bitcoin ETF market so far this month has undermined the possibility of any recovery in the short term. Most of the market’s gains so far have come from Ethereum, as the U.S. Securities and Exchange Commission closed its securities investigation into the asset.
Currently, the entire ecosystem is waiting for news on the possible approval of the S-1 registration, which will eventually open up ETF trading. Although experts predict that the trading volume of this product may decline, it is still considered the biggest catalyst to break the current market uncertainty. #Ethereum