Bitcoin’s market dominance which reached its peak at 54.3% before dipping to 52.7%, suggests that traders are embracing additional risk by exploring Ethereum (ETH) and other altcoins.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33213 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-1024x573.png" alt="" width="525" height="294" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-1024x573.png 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-300x168.png 300w, https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-768x430.png 768w, https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-24x13.png 24w, https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-36x20.png 36w, https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-48x27.png 48w, https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09.png 1443w" sizes="(max-width: 525px) 100vw, 525px" />
Furthermore, trading volume has diversified, with Bitcoin trading at up to three times the volume of ETH in mid-October, but that ratio has now reduced to just double the volume.
 
Additionally, the perpetual futures funding rate for both Bitcoin and Ethereum is trading at elevated levels, indicating growing interest in undervalued altcoins.
The breakout above the 1,740 level is a strong signal, providing a trading opportunity for those looking to take a long position in ETH.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33211" src="https://static.delta.exchange/wp-content/uploads/2023/11/eth.png" alt="" width="500" height="525" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/eth.png 710w, https://static.delta.exchange/wp-content/uploads/2023/11/eth-286x300.png 286w, https://static.delta.exchange/wp-content/uploads/2023/11/eth-24x24.png 24w, https://static.delta.exchange/wp-content/uploads/2023/11/eth-34x36.png 34w, https://static.delta.exchange/wp-content/uploads/2023/11/eth-46x48.png 46w" sizes="(max-width: 500px) 100vw, 500px" />
 
Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to <a href="https://www.delta.exchange/research-disclaimer">https://www.delta.exchange/research-disclaimer</a> for analyst disclaimer and other disclosures.

Bitcoin's market dominance which reached its peak at 54.3% before dipping to 52.7%, suggests that traders are embracing additional risk by exploring Ethereum (ETH) and other altcoi

Can ETH become New Crypto King? - Bitcoin's Market Dominance Dips