Ethereum price and BTC dominance

A shift in momentum between Ethereum and Bitcoin prompts questions about market leadership and future strategy.

Ethereum tops 4300 as bitcoin dominance slips signaling a flippening risk

Ethereum moved above 4,300, trading around 4,298 and up about 1.7% in the last 24 hours, while Bitcoin’s market dominance hovered near 60.7%. Wholesale activity showed demand for ETH, with about $160 million moved to Galaxy Digital in a single hour and the largest transfer totaling 4,500 ETH, roughly $19 million. Reports also indicate Vitalik Buterin’s ETH holdings exceed $1 billion, underscoring perceived scarcity on OTC desks. Market watchers say the move reflects growing institutional interest in Ethereum even as Bitcoin remains the benchmark for crypto markets.

The Altcoin Season Index stood at 38/100, signaling the market has not yet shifted into full altcoin leadership. Some observers say the real altcoin season may be ahead: flows from BTC into ETH and then into other top caps could create a mini alt season, potentially lasting into November, while others describe the path as uncertain and dependent on ongoing liquidity and risk appetite. Rotation watchers also point to bets that a later BTC rally could push higher, with Bitpanda and OKX executives describing a pattern where ETH leads a shift before BTC tests new highs.

If these signals hold, Ethereum’s rise past 4,300 and the drop in BTC’s dominance could reflect a real shift in capital allocation, not just a momentary blip. Yet the path remains fragile: altcoins need persistent inflows and broader participation beyond a few institutions, and ETH’s apparent scarcity could amplify moves that don’t always reflect broad demand.

Looking ahead, the sequence of money moves matters. A sustained ETH leadership could invite more risk-taking and new entrants into the market, while a sudden shift back to BTC or to a mix of top coins could deflate the optimism. Regulators may scrutinize large transfers as liquidity becomes uneven, and retail traders should be mindful of quick swings that can come with whale-driven episodes.

Highlights

Market signals shift quickly; stay alert to liquidity, flows and policy moves.