#BitcoinForecast #ETHRally
Bitcoin (BTC) dominance has dipped below 60% for the first time since February 1, marking its share of the total cryptocurrency market capitalization. Bitcoin’s market cap is now $2.39 trillion, while the overall crypto market has soared past $4 trillion to a new all-time high.
Ether (ETH) has been a major driver of the rally, climbing above $4,600. The last time Bitcoin dominance was this low, BTC was trading below $100,000.
The rally isn’t limited to digital assets—U.S. equities are also hitting records, with both the S&P 500 and Nasdaq 100 reaching fresh highs.
Meanwhile, the U.S. dollar index (DXY), which measures the greenback against a basket of major currencies, has slipped below 98, offering additional support for risk assets.
Markets are now almost fully pricing in a rate cut at the Federal Reserve’s September 17 meeting, which would lower the benchmark federal funds rate to 4.00%–4.25%.
Tuesday’s inflation data delivered a mixed picture: headline year-over-year inflation was softer than expected, but core inflation remains stubborn.