during the past few weeks, Ethereum has dominated Bitcoin in terms of market share.
The buzz around the Ethereum Merge has recently caused Bitcoin's (BTC) market value share to decline. Bitcoin maximalists would hope for a speedy reversal as the Ethereum upgrade would pass through, as the Merge is just around the corner. The price of Ethereum (ETH) after the update is still an unknown quantity.
Bitcoin Price Rebound Following Merge?
Technical indicators in this context seem to indicate increasing trading activity in bitcoin over the last few days. Ethereum trading surpassed BTC in terms of market share for as long as two months. Any obstacles or problems with the Ethereum Merge, meanwhile, would force Bitcoin back into first gear. Although there is a good possibility that the upgrade will be successful, blockchain experts cautioned that there may be a few minor glitches.
Crypto study indicates that, when compared to Ethereum, Bitcoin's share of trade volume just reclaimed the top spot. Additionally, it noted that there are some early indications of a change in which cryptocurrencies are taking the lead. The narrative will probably end after the Ethereum upgrade is finished, which is expected to happen around September 15. This makes predicting a change in behaviour logical, it continued.
Dominance In The Market Has Changed
According to a dominance by percentage volume chart, Bitcoin saw a crossing in trading volume dominance around September 11th. This implies that following The Ethereum Merge, the dominant structure of Bitcoin might alter.
The price of ETH is now floating around $1,700. According to price monitoring service CoinGabbar, the price of ETH as of this writing is $1,730, a decrease of 1.51% over the previous day. On the other hand, throughout the past week, the price of Bitcoin has been rising. BTC has increased 13.37% during the past week. As of this writing, the price of BTC is $22,408, up 4.01% over the previous day.
