Bitcoin market share reaches 63%! Ether market capitalization hits a new low for the year, crypto market focuses on ETH's long-term weak trend.

With the overall crypto market experiencing a severe pullback, major Crypto Assets have fallen over the past 24 hours. Among them, Ether (ETH) has shown particularly weak performance, with its price decline leading the pack and its market capitalization percentage dropping to a one-year low, raising concerns about its long-term competitiveness.

The top ten non-stablecoin assets have all fallen.

According to the latest market data, the top ten non-stablecoin Crypto Assets have almost all declined in the past 24 hours:

Currency Price 24h Drop 7d Drop 30d Drop Bitcoin (BTC) $75,458.93 -8.94% -8.18% -12.34% Ethereum (ETH) $1,465.36 -18.24% - 18.79% -31.23% XRP $1.68 -19.21% -18.59% -28.41% BNB $531.62 -9.79% -11.03% -10.89% Solana (SOL) $97.59 -17.97% -22.84% -29.53% TRON (TRX) $0.2223 -6.56% -4.25% -10.63% Dogecoin (DOGE) $0.1323 -19.59% -19.55% -32.50% Cardano (ADA) $0.5207 -18.37% -19.90% -36.65% UNUS SED LEO $8.86 -3.29% -2.69% -10.10% Toncoin (TON) $2.85 -12.09% -27.03% -3.83%

ETH has fallen significantly among major coins, with its market capitalization evaporating by over 30% in the last thirty days, indicating a clear shift in investor sentiment towards conservatism.

ETH/BTC long-term technical structure breakdown

According to statistics from ultrasound.money, the market capitalization ratio of ETH relative to BTC (ETH/BTC ratio) has gradually weakened since its peak in 2017, and recently it has clearly fallen below a long-term upward support line, symbolizing that the expectation of "Flippening" (Ether surpassing Bitcoin's market capitalization) over the past few years is entering a winter.

The market capitalization ratio of ETH/BTC has fallen to the lower edge of the wedge convergence area in nearly 10 years, showing a downward breakdown trend technically. Market share: ETH has faced a double blow.

According to the latest statistics from CoinMarketCap, as of April 7:

Bitcoin's market capitalization dominance is 63.0%, reaching a new annual high;

Ether's market capitalization now only accounts for 7.5%, a significant drop from 9.1% a month ago;

ETH market capitalization has reached its lowest point since 2024, indicating that funds are continuously flowing out of ETH.

Ethereum application activity is sluggish, and Gas consumption reflects a decline in demand.

According to Etherscan's Gas Tracker, the main trading activities on Ethereum are primarily DeFi operations such as USDT, Uniswap, and Aave lending, but the overall Gas usage has significantly decreased, indicating a weakening demand for on-chain transactions.

Comprehensive observation shows that Ether is currently facing multiple pressures including a price fall, a decrease in market capitalization share, a breakdown in technical structure, and weak on-chain activities. Although ETH is still regarded as the leader in the smart contract field in the long term, if it cannot regain market confidence, its dream of "flipping Bitcoin" may become increasingly distant.

This article states that Bitcoin's market share has reached 63%! Ether's market capitalization ratio has hit a new low for the year, with the crypto market focusing on the long-term weakness of ETH, first reported by Chain News ABMedia.