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Ethereum Dominance Hits Post-COVID Lows: Is ETH Losing to Bitcoin?
As the cryptocurrency market continues to grapple with uncertainty and volatility, a concerning trend has emerged. According to recent data, Ethereum’s dominance has plummeted to a post-COVID low of 8%, sparking concerns about its prospects against Bitcoin.
Despite a historically bullish macrocycle, Ethereum’s market dominance has been in a sustained decline since mid-2024, underscoring the cryptocurrency’s persistent relative weakness. The decline is particularly concerning given the asset’s inability to reclaim a double-digit foothold, as seen during the 2020 COVID-induced market cycle.
The alarming drop in Ethereum’s dominance is attributed to aggressive capital rotations into Bitcoin, fueled by macro-driven risk positioning and speculative front-running of a potential “Trump pump.” Furthermore, institutional demand for Bitcoin has dominated since March, while ETH ETFs continue to experience outflows, signaling weak conviction.
As uncertainty deepens, institutional liquidity will dictate market stability. Bitcoin’s role as a risk-off asset is increasingly cementing its position, leaving Ethereum to lose ground in the process.
In this context, it becomes challenging to envision a scenario where Ethereum can regain its lost dominance. The narrative of persistent capital rotation away from ETH continues to reinforce itself.
Source: https://ambcrypto.com/ethereum-dominance-hits-post-covid-lows-is-eth-losing-to-bitcoin/
