Bitcoin Price Volatility Returns: Is Ethereum Gaining Ground as BTC Dominance Slips?

After nearly a month of quiet consolidation, volatility has returned to the cryptocurrency market, reigniting debates about the next big move for Bitcoin (BTC) and Ethereum (ETH). While Bitcoin briefly touched fresh all-time highs before retracing, Ethereum is showing early signs of strength that could reshape market flows in the coming weeks.

Bitcoin’s Rollercoaster: ATH Breakout, Sharp Reversal, and Liquidity Sweep

On the weekly chart, Bitcoin remains just 0.84% below its $119,032 open, suggesting a relatively calm performance at first glance. However, digging deeper into intraweek price action tells a far more dramatic story.

BTC surged to a new all-time high (ATH) of $123,731.

The breakout was followed by a swift reversal, driving the asset down to $116,903 in a liquidity sweep.

This wide trading range points to one thing: volatility expansion is underway. Historically, such setups signal that the market is clearing out weak hands before setting the stage for a more decisive directional move.

The question dominating traders’ minds is: where will the next wave of capital flow—Bitcoin or Ethereum?

Michael Saylor Repeats His Volatility Mantra

MicroStrategy’s Executive Chairman, Michael Saylor, returned with one of his most iconic statements: “Volatility is the gift to the faithful.”

The last time Saylor reiterated this line, Bitcoin plunged nearly 30% in less than two weeks, shortly after peaking at $109,000 in January. Back then, Bitcoin dominance (BTC.D) was in a strong uptrend, pushing through the 58% level and notching a three-month high.

This time, however, the backdrop is different:

BTC.D has slipped below the 60% support level, marking a second consecutive weekly decline.

Meanwhile, Ethereum dominance (ETH.D) has surged by nearly 4%, reclaiming ground that hasn’t been tested since late 2024.

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