TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Bitcoin dominance slips below 60% as Ether fuels crypto rally and US stocks hit fresh highs

  • Bitcoin’s market capitalization stands at $2.39 trillion, total crypto exceeds $4 trillion for the first time, and Ether tops $4,700.
  • For the first time since Feb. 1, bitcoin’s market-cap dominance has fallen beneath 60%, reflecting its portion of total cryptocurrency value.
  • ETH’s surge above $4,700 has fueled the rally, and the last time bitcoin’s dominance dropped to this point, BTC was under $100,000.
  • U.S. markets are rising alongside crypto, with the S&P 500 and Nasdaq 100 both posting record highs.
  • The dollar index (DXY) has slipped back below 98, bolstering risk appetite, as markets price in an almost certain Sept. 17 Fed rate cut that would lower the federal funds rate to 4.00%–4.25%.
Bitcoin dominance slips below 60% as Ether fuels crypto rally and US stocks hit fresh highs
Ali Merchant, CMTAli Merchant, CMTTwT Learning

Technical analysis perspective:

Bitcoin / US Dollar:

  • On July 10, 2025, BTC pierced the May 22 high of $112,000.
  • Bitcoin hit a new all-time high on July 14 at $123,231.07.
  • BTC/USD retested the prior $112,000 level early last week.
  • Prices are trading into a strong resistance band between $120,990 and $123,231.
  • Bear case: a rejection of that zone would likely send BTC down toward $116,500–$115,000 (the preferred pullback scenario).
  • Bull case (alternate): a sustained break above $123,231 would clear the path for fresh all-time highs.

Ethereum / US Dollar:

  • ETH pierced March 2024 high of $4,410.
  • Prices are targeting all-time high of $4,867 from November 2021.
  • The $4,650–$4,867 area could stall the rally and an initiate a corrective decline.
  • Bear case (ideal scenario): A rejection of $4,650–$4,867 band triggers unwinding of longs, targeting $4,110–$3,750 support.
  • Bull case (alternate): A sustained break and hold above $4,867 would confirm continuation to fresh highs.

Author

Ali Merchant, CMT

Ali Merchant, CMT

TwT Learning

Ali Merchant is a seasoned financial market professional with expertise in Technical Analysis, Treasury & Capital Markets, Trading, Sales, Research, Training, & Fund Management, He has been trading FX, FX options, US stocks & opti

More from Ali Merchant, CMT
Share:

Editor's Picks

Zcash Price Forecast: ZEC poses 20% downside risk amid steady ETF outflows

Zcash Price Forecast: ZEC poses 20% downside risk amid steady ETF outflows

Zcash price is trading below $1,300 continuing a steady decline over the past 10 days and slipping from its $1,698 peak on September 27. Grayscale’s ZEC Exchange-Traded Fund continues to record consistent outflows, with $8.49 million on Wednesday, suggesting reduced demand following the recent stock split.

Ripple and Stellar outlook: XRP and XLM test key support amid rising downside risks

Ripple and Stellar outlook: XRP and XLM test key support amid rising downside risks

Ripple and Stellar remain under pressure and extend their corrections as weakening derivatives metrics and broader macroeconomic headwinds weigh on sentiment. XRP and XLM approach a key support zone after three consecutive days of losses so far this week.

Samsung partners with Solana to integrate stablecoins into US Galaxy devices

Samsung partners with Solana to integrate stablecoins into US Galaxy devices

Samsung announced a partnership with Solana to integrate the US Dollar stablecoin issued by Circle, USDC, into US Galaxy devices, supporting cross-border remittances. The feature will be built into the Samsung Pay and Samsung Wallet apps, sharing the same screen used for displaying credit cards and boarding passes.

Cryptocurrencies face new security risk as Ethereum researcher warns of potential ECDSA break

Cryptocurrencies face new security risk as Ethereum researcher warns of potential ECDSA break

Ethereum (ETH) researcher Justin Drake has urged the crypto industry to begin preparing for a potential breakthrough that could undermine the cryptographic systems securing digital assets. In an X post on Wednesday, Drake called on the industry to calmly enter what he described as “bunker mode.”
Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.