Research

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.<figure class="kg-card kg-image-card"><img src="https://static.delta.exchange/wp-content/uploads/2023/11/BTC.D_2023-11-06_13-23-09-1024x573.png" class="kg-image" alt loading="lazy" width="525" height="294"></figure>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.<figure class="kg-card kg-image-card"><img src="https://static.delta.exchange/wp-content/uploads/2023/11/eth.png" class="kg-image" alt loading="lazy" width="500" height="525"></figure>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.

Is ETH overtaking Bitcoin? Explore the drop in Bitcoin dominance, ETH’s rising role, and what it means for crypto market trends and traders.

Can ETH become New Crypto King? – Bitcoin’s Market Dominance Dips

Delta Exchange India

Home

Blog

Learn how to optimize returns by combining MA crossovers with trend indicators. Improve signal accuracy, reduce false trades, and boost profits.