Peter Schiff's Unexpected Choice: Bitcoin or Ethereum?

Peter Schiff recently shared his views on the dynamics of the cryptocurrency market, particularly reassessing the relationship between Bitcoin and Ethereum. He stated that although Ethereum showed a certain rebound in the short term, he still believes that exchanging ETH for BTC is a wise trade.

Since I suggested exchanging Ethereum for Bitcoin, it has indeed risen a bit, but I still believe this trade will ultimately be successful. In fact, it performed well at first until Ethereum started to rebound later last week. I have no interest in either of these currencies, but if I had to choose, I would choose Bitcoin.

Although he clearly stated that he is unwilling to hold either of these assets, he admitted that if forced to choose, he leans towards Bitcoin.

Market Dynamics of Ethereum and Bitcoin

As of the time of writing, both Ethereum and Bitcoin have recorded slight increases in the past 24 hours. Among them, ETH rose by 1.14%, reaching a price of $4,213.86; while BTC increased by 0.96%, reaching an astonishing price of $118,125.00 (Data Source: CoinMarketCap).

However, despite the price increase, the ETH/BTC ratio dropped by 2.57%, indicating a weakening trend of Ethereum relative to Bitcoin. Currently, 1 ETH equals 0.3565 BTC, which is a decrease of 0.00094 BTC from before.

In terms of institutional investment, inflows into Ethereum ETFs reached $461 million, surpassing Bitcoin ETFs' $403.9 million (Data Source: Farside Investors). This shift indicates growing interest in Ethereum among investors, but the change in ratio suggests that Ethereum may still be at a disadvantage relative to Bitcoin in the short term.

Signals of Market Dominance

Additionally, data on market dominance also reflects the current situation's changes. Bitcoin's market share is 59.1%, a decrease of 4.91% from last month; while Ethereum's market share has climbed to 13%, an increase of 3.34%.

Meanwhile, other cryptocurrencies collectively account for 28% of the market share, with a rise of 1.57%. This trend highlights the gradual diversification of capital. While Bitcoin still holds a dominant position, its decline in market share contrasts sharply with Ethereum's steady growth and the increasing participation of altcoins. #特朗普加密新政