Bitcoin’s market share dropped to 58%. Analyst: BTC’s impact of 100,000 is blocked, and market funds may flow to Altcoin such as Ethereum.

Bitcoin fell to as low as $92,601 around 6 a.m. this (26th) morning, plunging $6,000 overnight, marking the most significant drop in nearly three months. However, it is worth noting that the recent strong Altcoins seem to show signs of resilience, and Ethereum, although highly volatile, has still risen by more than 3% in the past 24 hours.

QCP Broadcast: Market focus shifts to Altcoins like ETH

Against this backdrop, QCP Broadcast posted on its official Telegram channel yesterday (25th) stating that as the bullish momentum of Bitcoin temporarily pauses, during the sideways price movement, the market's focus in the short term may shift to Ethereum:

Although the price has retreated somewhat over the past weekend, the long-term volatility remains relatively high. The market seems to expect Bitcoin to consolidate until December, so the short-term focus will shift to ETH.

As we mentioned last week, if Bitcoin fails to break through $100,000, there may be a capital outflow from Bitcoin to Ethereum and other Altcoins.

Bitcoin's market dominance drops to 58.6%

According to Trading View data, Bitcoin's current market dominance in the overall cryptocurrency market has fallen from the high of nearly 62% last Thursday to 58.6%. Based on past bull market experiences, after Bitcoin hits a new all-time high and enters a high-level consolidation phase, Altcoins may indeed be poised for a collective breakout, and Bitcoin's market dominance could further drop to 50% or even lower. Investors focused on Altcoins can continue to monitor the situation or refer to this article: Is Altseason Coming? Besides BTC.D, These Three Indicators Can Help You Predict