The ETH to BTC exchange rate continues to decline, can altcoins expect to soar?
BlockBeats news, on April 22, according to TradingView data, Bitcoin's market share (BTC.D) rose to 64.61% today, hitting a new high since February 2021. The high Bitcoin market share indicates the stagnation of the altcoin market, but it also suggests that a rebound is imminent.
According to previous historical data, when Bitcoin's market share surged above 60% last November, altcoins began a small bull market. In 2019 and 2021, Bitcoin's market share also reached highs above 70%, followed by a spectacular bull run.
The ETH to BTC exchange rate has fallen sharply, with daily, weekly, and monthly charts continuously setting new lows, even the altcoin bull market in November does not seem very optimistic!!
