The ETH/BTC pair has reached its lowest levels since the beginning of the year with Bitcoin leading the market

ETH/BTC has hit its lowest level this year with Bitcoin rising to a new all-time high, sparking debate about market dominance.

Bitcoin (Bitcoin) reached an all-time high of $97,862.64 (1 a.m. EST). Meanwhile, Ethereum (Ethereum) remains a laggard, with its performance against Bitcoin falling to its lowest levels this year. BTC, which is consolidating near $97,379.69 at press time, has only opened up questions about whether ETH can regain speed or record a broader altcoin pullback due to BTC’s rally.

Bitcoin dominance rises:

according to CoinMarketCapBTC’s share of the cryptocurrency market has risen to 60.5%, which represents a significant increase of more than 3% in just one month. This rise comes as BTC reaches an all-time high mainly driven by investments from institutional investors.

“Today, more institutional investors are investing in Bitcoin than in the past. The second factor was the political landscape, especially Donald Trump, who became the president-elect of the United States. Donald Trump has had an influence, and is said to have revised his stance on cryptocurrencies, where Elon worked Musk as a positive representative of cryptocurrencies. male Idul PatelCEO of the company Modrexin an interview with IndiaToday.

On the other hand, ETH dominance dropped to 11.8%, down from 13.8% last month. That the ETH/BTC pair has reached its lowest level in a year so far confirms that the second-largest cryptocurrency has not performed as well as BTC this year. Looking at this year’s ETH price chart, the momentum is fluctuating, but it is still lagging behind BTC’s upward trend.

The Moving Average Convergence Divergence indicator for ETH also indicates some momentum difficulties at critical resistance levels. Meanwhile, the Altcoin Season Index, currently at 28, shows that the market is not favoring altcoins. The decline in the market cap of altcoins compared to Bitcoin also indicates that liquidity is shifting from altcoins, including ETH, to BTC.

Will Ethereum speed increase?

ETH’s recovery path depends on fundamental and technical factors in the ETH/BTC pair. While fundamental analysis shows the continued acceptance of… Second layer solutionsand development in decentralized finance and active ownership Ethereum 2.0technical analysis will indicate an initial support level at 0.057 BTC, which will likely serve as a base. Resistance levels are located at 0.065 BTC and 0.070 BTC, which indicate critical thresholds that ETH needs to break if it wants to regain momentum.

Closing the gap will require ETH breaking through resistance levels and overcoming ongoing network upgrades; Such moves may help ETH/BTC regain lost ground against Bitcoin.