Renowned cryptocurrency trader KALEO (@CryptoKaleo) recently took to Twitter to express his concerns about the ETH/BTC trading pair, stating that it “still looks terrible.” This tweet is part of a comprehensive thread that KALEO has updated since December 22 last year, providing valuable insights and analysis for his followers. As a respected figure in the crypto community, KALEO’s observations carry significant weight and are closely monitored by traders and investors alike.
There is a growing sentiment within the crypto community that Ethereum (ETH), the top altcoin by market capitalization, will eventually surpass Bitcoin (BTC) in market cap. Nevertheless, KALEO’s ongoing analysis of the ETH/BTC pairing may challenge this notion, albeit temporarily.
As per the trader’s analysis, it is anticipated that ETH will experience a decline compared to BTC in the upcoming days. KALEO’s recent tweet culminated with the phrase “send it lower,” indicating a bearish outlook on the ETH/BTC pair.
According to the latest data from CoinMarketCap, both BTC and ETH have experienced a decline in price over the past 24 hours. Presently, BTC is trading at $27,540.32, reflecting a 2.65% drop, while ETH is changing hands at $1,751.78, indicating a 3.46% decrease in value. Consequently, BTC has gained a 0.92% advantage over ETH in the last 24 hours. These figures suggest a shift in the market, and investors should keep a close eye on the situation.
The market cap differential between BTC and ETH is quite significant. ETH’s market cap is approximately $214,376,317,596, while BTC’s market cap is more than twice that of ETH, estimated at around $532,191,709,934.
According to CoinMarketCap, BTC’s market dominance has experienced a marginal decrease of 0.07% in the past 24 hours. Despite this, BTC’s market dominance remains strong at over 46%.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
