‼️Analyst 👨💻, known under the pseudonym Hedgex.eth, believes that the release of an Ethereum ETF will deal a major blow to Bitcoin's dominance.‼️
🔺Bitcoin will reach new heights during this cycle, but many will be disappointed by the peak at $100,000💵. The Ethereum price has great upside potential thanks to catalysts including ETF etf. Bitcoin's dominance will suffer greatly. The capitalization level of all cryptocurrencies will increase significantly🚀,” wrote Hedgex.eth.
🔺Last year, the share of Bitcoin in the digital asset market increased📈 from 41.3% to 53.5%. When the coin fell in price 📉 by 1% from January 1, 2024, Bitcoin's dominance decreased by only 1%. However, Hedgex.eth predicts a significant drop 📉of this indicator after the launch 🚀of Ethereum-ETF trading.
🔺The expert predicts an increase in the Bitcoin exchange rate; accordingly, it becomes obvious that ETH will win back positions from the first cryptocurrency due to a higher 🔺 rate of price increase. This trend has already emerged, because from January 10 to 12, Ethereum rose in price by 25% against Bitcoin and maintained its position.
Change in the exchange rate of Ethereum against Bitcoin over the past month
