Ethereum’s Meteoric Rally: Is This the Final Nail in Bitcoin’s Dominance Coffin?

Ethereum isn't just rallying—it's rewriting crypto's power dynamics. While Bitcoin maximalists cling to 'digital gold' narratives, ETH's surge exposes a market hungry for utility over hype.

The flippening whispers grow louder.

Smart contracts, DeFi ecosystems, and institutional adoption are fueling ETH's ascent. Meanwhile, Bitcoin's 'store of value' thesis looks increasingly like a boomer relic in a world demanding programmable money.

Traders are voting with their wallets—and Wall Street's latecomers are finally realizing crypto isn't just one coin's game. (Though let's be honest—they'll probably FOMO into ETH just in time for the next correction.)

The takeaway? Crypto's future is multi-chain, but Ethereum's proving it might just be first among equals. For now.

TLDR

• Ethereum has surged 100% and reclaimed $3,000 for the first time since February 1, outpacing Bitcoin
• Bitcoin dominance has dropped to 63.82% as money flows into ETH and altcoins
• Analyst Matthew Hyland says there’s a 99% chance Bitcoin dominance has peaked if Ethereum continues its bullish trend
• ETH/BTC pair broke above its 200-day moving average for the first time in a year
• Some analysts project ETH could reach $18,205 based on fractal analysis, though this remains speculative

Ethereum has surged 100% to reclaim the $3,000 level for the first time since February 1. The rally has pushed ETH to new weekly highs at $3,090 while Bitcoin slipped to $116,500 on Tuesday.

This performance marks a shift in market dynamics as capital rotates from bitcoin to Ethereum. Analytics firm Swissblock noted that Bitcoin’s prior four bullish expansions lasted between 15 and 30 days, with the current rally reaching day 12.

Bitcoin dominance currently sits at 63.82%, down 1.35% over the past 30 days. The metric has dropped 1.85% over the past seven days as money flows into ETH and altcoins.

Crypto analyst Matthew Hyland believes Bitcoin’s market dominance has reached its peak. He said there’s a 99% chance Bitcoin dominance has topped if ethereum continues its bullish trend against Bitcoin.

“It is basically impossible for Dominance to push higher if ETH continues higher against BTC,” Hyland stated. The analyst views the current market movement as a clear signal of changing investor preferences.

Technical Indicators Point to Trend Reversal

The ETH/BTC pair has registered a bullish break of structure for the first time since May 24. This signals a potential trend reversal in favor of Ethereum over Bitcoin.

ETH/BTC also reclaimed a position above its 200-day moving average for the first time in a year. This indicates medium to long-term strength for Ethereum relative to Bitcoin.

ETH advocate Ted Pillows pointed out that the ETH/BTC weekly’s relative strength index has broken free from a three-year downtrend. A golden cross is also forming, which reinforces the case for a structural trend change.

Crypto trader Ash crypto attributed the Bitcoin dominance decline to “money flowing into ETH & altcoins.” The shift suggests growing confidence in the broader altcoin market after a period of Bitcoin outperformance.

BITCOIN DOMINANCE IS DROPPING HARD!

MONEY FLOWING INTO ETH & ALTCOINS pic.twitter.com/9GYJ316lpz

— Ash Crypto (@Ashcryptoreal) July 16, 2025

Analysts Project Further Upside

Analyst Merlijn The Trader posted fractal analysis suggesting Ethereum may follow a similar trajectory to Bitcoin’s 2018-2021 market cycle. The analysis projects that the rally from April’s low of $1,550 could evolve into a 1,110% “vertical phase.”

This projection WOULD potentially push ETH to around $18,205. The analysis highlights a pattern of a 63% correction followed by a 342% recovery rally, mirroring Bitcoin’s historical behavior during its previous bull cycle.

However, fractal analysis remains largely speculative and lacks empirical validation. Its interpretive nature makes exact outcomes difficult to predict, despite the visual similarities to past patterns.

Analyst Daan Crypto takes a more conservative technical approach, setting an immediate target of $4,000 for ETH. The trader noted that Ethereum has moved into the upper half of its massive cycle range, with $2,800 and $4,000 as key levels.

Capriole Investments founder Charles Edwards expects Bitcoin’s market to cool off following its recent high of $122,884 on Monday. He believes the uptrend will pick back up toward the end of the year after some consolidation.

Ethereum is trading at $3,117 according to CoinMarketCap data, up 19.87% over the past seven days.