Summary
- Analyst Julio Moreno reported that while Bitcoin's market capitalization ratio has significantly increased in this market cycle, Ethereum's market capitalization ratio has decreased.
- Bitcoin's market share increase stands in contrast to Ethereum's weakening position, which he explained is an indicator of liquidity flow.
- As of the 18th, while Ethereum's price has increased, this movement contrasts with the overall decline in market share.
Julio Moreno, CryptoQuant's senior analyst, stated via X (formerly Twitter) on the 17th (local time) that "In this market cycle, Bitcoin's (BTC) market capitalization ratio compared to other cryptocurrencies has increased from 0.90 to 2.12," while noting that "Ethereum's (ETH) market capitalization ratio has decreased from 0.41 to 0.36."
He further explained, "In contrast to Bitcoin's (BTC) market share more than doubling, ETH is losing ground," adding that "This is a clear indication of where liquidity is flowing."
Meanwhile, ETH is trading at $2,758.48 on Binance's USDT market as of 01:02 on the 18th, up 2.44% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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