Has Bitcoin finally topped the charts? ”When Ethereum rises, there is a 99% chance it will fall” - Analysis

If Ethereum prices continue to rise, some have suggested that Bitcoin's market share dominance may have peaked and is entering a decline.
On the 15th (local time), cryptocurrency analyst Matthew SHOO Hyland
"If Ethereum continues to strengthen against Bitcoin and this trend continues, there is a 99% chance that Bitcoin's share has already peaked," Hyland wrote in a post on X.
"As long as Ethereum maintains its upward trend against Bitcoin, it is virtually impossible for Bitcoin's shares to rise again," he added.
Bitcoin market share indicates the percentage of the entire cryptocurrency market that Bitcoin currently occupies, according to TradingView.
According to the IPO, Bitcoin’s market share on that day was 63.82%, up 9.89% from the beginning of the year (January 1st).
However, over the past seven days, the cryptocurrency has fallen by 1.85%.
Trader Ash Crypto explained that this is “a result of funds moving into Ethereum and altcoins.”
Generally speaking, Bitcoin's market share growth is driven by investors investing in it more than altcoins.
This indicates great confidence in Bitcoin, and conversely, if its share falls, it will be interpreted as rising expectations for altcoins across the market.
Ethereum has risen 19.87% in the past week and is currently priced at $3,117 (based on CoinMarketCap).
Asset trader Cas Abbe noted that Ethereum is currently forming one of the clearest bull flag patterns, and that a breakout is “imminent.”
Meanwhile, Ethereum has seen its relative strength against Bitcoin increase by about 10% over the past 30 days.
"Bitcoin has been in a short-term trade since hitting a record high of $122,884 on July 14," said Charles Edwards, founder of the ICO Investments.
"There is a possibility that the market will enter a period of adjustment," he said, but predicted that "the market will likely resume an upward trend by the end of the year."