Ethereum’s most up-to-date value rally has eroded Bitcoin’s dominance, representing one of many steeper actions within the crypto area in latest months.
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Though each belongings have registered development, US President Donald Trump’s long-time crypto skeptic, Peter Schiff, made it plain which one he would retain in case he have been compelled — and it isn’t Ethereum.
ETH Pushes Past $4,000 Amid Strong Activity
Ethereum moved previous $4,000 in latest buying and selling classes, reaching a excessive for 2025. Whale transactions and heavier derivatives buying and selling have been the gas to this value motion, in keeping with stories.
Volumes and open curiosity have additionally gone up, indicating wholesome speculative demand. ETH even surpassed Bitcoin’s proportion appreciation within the earlier week, additional pushing eagerness up amongst its followers.
Well Ether is up a bit since I recommed change it into Bitcoin, however I nonetheless suppose the commerce will work out. If reality, it was woring nicely initially, till Ether simply rallied late final week. I’ve little interest in proudly owning both, however when you put a gun to my head, I’d selected Bitcoin.
— Peter Schiff (@PeterSchiff) August 9, 2025
Schiff, who’s an economist and gold advocate, mentioned Ether’s surge got here after he had been recommending buyers to switch their ETH to Bitcoin.
Though that tack apparently paid off at first, Ethereum’s late-week surge closed the hole. “I’ve little interest in proudly owning both, however when you put a gun to my head, I’d choose Bitcoin,” Schiff mentioned on X.
Bitcoin Above $100k But Lags Behind In Terms Of Market Share
Despite the ETH rally, Bitcoin has stored its place as the biggest cryptocurrency by market capitalization and essentially the most extensively adopted by establishments.
It remains to be above $100,000, buoyed by spot Bitcoin ETF inflows and company treasury shopping for.
Market share statistics from CoinMarketCap, nonetheless, point out that Bitcoin’s dominance had dropped to 59%, which is 4.90% much less from final month.
Ethereum’s share has grown to 12%, up 3.25% in the identical interval. Altcoins mixed have elevated their slice to 25%, a achieve of 1.50%.
Abrupt Shift From June Peaks
Bitcoin dominance hit an annual excessive of 65% on June 27, 2025, then retreated throughout the next weeks. Dominance was at 61% per week in the past.
The 12 months low hit 53% throughout December 2024, which implies present ranges are nonetheless a lot greater than that low however nonetheless trending downwards.
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Ethereum, for its half, has continued to consolidate extra, nearing the highest of its yearly vary.
Whether it holds there or not shall be a operate of institutional positioning, macro tendencies, and continued buying and selling momentum.
In the meantime, Schiff’s remark made clear that, if threatened, he’d nonetheless take Bitcoin over Ethereum — a uncommon admission from a long-time critic of each.
Featured picture from Meta, chart from TradingView
