Despite the recent price rebound, Bitcoin's dominance has decreased, with the Ethereum merger event dominating the headlines.
On Monday, Bitcoin, the world's largest cryptocurrency, surpassed the $22,000 barrier. On the Bitstamp platform, it reached an intraday high of $22,350 before trimming some gains. Bitcoin bills have made an amazing recovery after the top currency fell to its lowest level since mid-June last week.
Over the last seven days, the largest cryptocurrency has gained around 9%. According to U.Today, Yahoo Finance analyst Jared Blikre recently stated that the largest cryptocurrency's next upside objectives might be $30,000 and $40,000.
Despite having recovered to $22,000, Bitcoin is still failing to expand its market share. According to CoinMarketCap data, its dominance just fell below 39%. Over the last month, Ethereum has dramatically outperformed Bitcoin.
According to U.Today, the ETH/BTC pair reached a high of 2022 earlier this month. The most significant altcoin has profited from the hype around the Ethereum merger, which is shaping up to be the most momentous event in cryptocurrency this year. The second-largest blockchain network will ultimately switch to a proof-of-stake network.