(5/4, Tue) btc closed flat after reaching over $59000, and eth rose 16.1% in a day with hitting new ATH of $3456

Yesterday(5/3 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $56641, its lowest as $56507, its highest as $59032, its closing as $56656. Bitcoin started a new week, oriented upward and started climbing, breaking up $58000 at 01:30, and reaching a high at 08:30, then cascading down on the 15-minute chart, reaching a low at 21:00 to close flat.

At the beginning of the day, btc reached a peak following the rise of Ethereum, but after that, Ethereum continued to rise, rising 16.1% per day, and Bitcoin did not rise at all with its dominance dropping to 47.3. The hike of Ethereum is caused by the fact that it is used in DeFi and NFT markets, and the amount of Ethereum that can be traded in the market has decreased with Ethereum staked in ETH2.0, and the recent Ethereum ETF was launched in Canada.

However, in the past case, we know from experience that after Ethereum greatly outperformed Bitcoin's growth rate, in most cases, Bitcoin rose again with dominance increasing, and Ethereum and other altcoins fell. I am guessing that investors who made enough profits from Bitcoin temporarily transferred funds to Ethereum and if the funds are returned to Bitcoin, it is possible that the said past cases may be repeated again.

In the cryptocurrency market, there is a news that eBay is planning to use cryptocurrency as a payment method in the future, and is considering how to use NFTs in the eBay platform. The fact that another e-commerce company is trying to enter after companies that have already entered the cryptocurrency business, such as PayPal, Visa, Master, and Square, will be proof that the cryptocurrency market will continuously expand.