Bitcoin’s market dominance has dropped sharply to around 58%, sparking talks of stronger momentum for Ethereum and other altcoins — www.naijnaira.com reports.
According to Coinotag, the decline followed a failed attempt to hold above the 64.81% support level, with analysts pointing to RSI divergence and heavy selling as key triggers.
From early 2024 to mid-2025, Bitcoin’s share climbed close to 66%, but the trend reversed once technical signals showed weakening strength.
When Bitcoin broke below support, trading volumes flipped bearish, and sellers pushed dominance down quickly.
Current readings suggest downside targets near 50.56% and 48.32% if the market continues to favor alternative coins.
Ethereum’s recovery to its all-time high has been a major driver of this rotation, drawing liquidity away from Bitcoin and into smart-contract platforms.
Analyst Michael van de Poppe described the shift as “a structural bias favoring altcoins while Bitcoin dominance stays under resistance.”
Another expert, El Crypto Prof, pointed to a long-term wedge formation, warning that a breakdown below 59% could accelerate volatility.
Altcoins, including Layer-1 tokens and DeFi projects, are already seeing stronger activity as traders diversify exposure.
Article updated 5 days ago. Content is written and modified by multiple authors.
