Bitcoin's market dominance has surged to a 40-month high of 78.5%, outpacing Ethereum's market cap growth, reflecting stronger investor demand for #Bitcoin over #Ethereum. 

🟢 Bitcoin's dominance started rising in late 2022 amid speculation about a Bitcoin ETF, which has since been approved and attracted significant inflows. In contrast, anticipation and approval of an Ethereum ETF have not shifted market dynamics, as shown by the lower demand for the ETH ETF.

🟢 Historical events, such as the ICO bubble and the market peak in 2021, have influenced these trends. A similarly impactful event might be necessary for Ethereum to challenge Bitcoin's current dominance.

Source: @cryptoquant_com
#Bitcoin #Ethereum