QCP Capital reports that Bitcoin’s dominance surged to 59.75% this week, signaling a continued upward trend as BTC approaches its all-time high. Meanwhile, Ethereum’s ETH/BTC ratio has broken its key support level, falling by 5.85% to a new low of 0.03625, indicating weaker relative performance for ETH.
With the rise in Bitcoin dominance expected to continue, market focus is now shifting to next week’s U.S. non-farm payrolls data. This release could provide additional insight into the Federal Reserve’s next policy move. Current market sentiment shows a 95.1% probability of a 25-basis-point rate cut in November, suggesting limited expectations for any major surprises from the Fed.
