The struggle between Bitcoin and Ethereum for market domination

In a deviation from normal market conditions in cryptocurrencies, the past few weeks have seen Ethereum gain and increase its market dominance at the expense of Bitcoin.

Thanks to the momentum and hype around the integration of Ethereum, Bitcoin's share and dominance in the cryptocurrency market has recently declined.

With the merger looming, Bitcoin enthusiasts are hoping for a quick shift in interest after the Ethereum upgrade.

Meanwhile, it remains to be seen how the Ethereum price will react after the upgrade.

Bitcoin price recovery after Upgrade?

In the same context, technical indicators are showing an increase in Bitcoin trading activity in the past few days.

For two months, Ethereum trading has overshadowed Bitcoin in terms of market share.

Meanwhile, any hurdles or problems in upgrading Ethereum will push Bitcoin to the highest level.

Some blockchain experts have warned that there may be small problems despite the odds that it will be a successful upgrade.

According to the “Crypto Quant” analysis, Bitcoin regained its share of trading volume recently and ranked first when compared to the share of Ethereum.

According to the same analysis, there are also some early signs that there is a shift in interest in the cryptocurrency market and the main currency driving the market.

After making an Ethereum upgrade on September 15th, the momentum is likely to fade away and back to Bitcoin.

This, she added, makes sense to expect a shift in behaviour.

The struggle for market domination:

The dominance chart by volume percentage shows that on 9/11 Bitcoin had a crossover in volume dominance.

This means that there may be a change in the Bitcoin dominance pattern after the Ethereum merger.

Meanwhile, the price of Ethereum is hovering around the $1,700 area.

At the time of this writing, the price of Ethereum is at $1,710, down 1.43% in the last 24 hours, according to price tracking platform CoinMarketCap.