Crypto at a Turning Point: Bitcoin Dominance vs. a Bullish Ethereum Setup

Key Points

1. Bitcoin dominance is at the 50-week moving average, a historically significant support level, which could determine whether altcoins outperform or Bitcoin gains more market share.

2. A sustained break below the 50-week average (near 60%) may lead to altcoins outperforming, while holding above could strengthen Bitcoin's dominance.

3. Ethereum shows a bullish signal with its 20-day and 50-day moving averages crossing above the 200-day average, similar to its setup before the 2020–2021 bull run.

4. Ethereum needs to decisively break above $4,100 to confirm the bullish trend; failure could result in continued consolidation.

5. Ethereum's risk score is around 49, a level last seen in mid-2020 before its major bull run, suggesting a potential pre-bull phase.