, which extended its week-over-week gain to more than 12%, rising above $68,000 for the first time since late July. The broad market gaugeBitcoin's"dominance," i.e. its share of the total cryptocurrency market capitalization, has now jumped to 58.91% from 57.13% at the start of October.
In previous cycles, such as the 2016-2019 and 2019-2022 periods, the ETH/BTC ratio was at least 200% higher from the cycle low at this point. However, the current ratio is 25% beneath its June 2022 cycle low, highlighting ether's underperformance against bitcoin.Lastly, ether has outperformed bitcoin in just seven of the past 23 months. Ether's most recent month of relative outperformance was back in May 2024..
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