TechFlow news, March 6 — According to CoinDesk, FxPro senior market analyst Alex Kuptsikevich noted that Bitcoin's share of the crypto market has surpassed 60%, a pattern typically seen during periods of panic. Meanwhile, Ethereum's market share has dropped to a five-year low of 9%, a worrying sign for altcoin investors as the majority of capital inflows are moving into Bitcoin.
"Bitcoin continues to hover around its 200-day moving average, rebounding after briefly dipping below $83,000 on Tuesday," Kuptsikevich said in an email to CoinDesk. "Wednesday's early trading dynamics reflect cautious attempts to form a bottom." He added, "A return above the 50-day moving average into the $97,000 zone would be a bullish success signal."
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