“What saddens me is the way the weak hands and recent buyers see Elon Musk as a prophet, powerhouse and decisive figure in bitcoin,” said one trader.
“The crypto market is primarily focused on Ethereum and the catapulting DeFi sector right now,” said one analyst.
Dominance is at the lowest level since April 2018, suggesting traders are rotating into ether and other altcoins.
The milestone came as ether hit an all-time high of over $4,370.
The DeFi-related assets have grown by double digits so far this year.
The cryptocurrency's rally is supported by increased network usage.
A Coinbase premium for ether is continuing to spur new investment, according to analyst Ki Young Ju.
Bitcoin rose as traders looked towards further Fed support after the U.S. jobs miss. Altcoins continue to outperform.
Atcoins are rising, ether hits another all-time high and bitcoin’s correlation to gold drops to zero.
Increased demand for deep out-of-the-money call options is reflective of strong bullish sentiment.
Ethereum Classic pops 53%, while bitcoin recovers and ether pushes back toward its all-time high.
Some see ether and bitcoin now behaving as very separate assets, which normally isn’t the case.
Cryptocurrencies fall along with other risky assets on hint of higher interest rates.
Robinhood is experiencing platform issues as retail traders rush to place orders amid a rally in Dogecoin (DOGE). This isn't the first time.
Ether is on track to extend its nine-day winning trend amid signs of institutions seeking exposure to the cryptocurrency.