Bitcoin (BTC) appears to be losing its dominance in the crypto market, according to popular crypto analyst Michaël van de Poppe. Van de Poppe, who has a large following on social media, suggests that altcoins may soon take the spotlight. He believes that the Bitcoin dominance has reached its peak and there is a high chance that altcoins will experience a surge in the near future. Van de Poppe also mentions the possibility of a momentum shift with the introduction of an Ethereum exchange-traded fund (ETF) in May. The approval of this ETF by the U.S. Securities and Exchange Commission (SEC) is still uncertain, as experts have differing opinions on its likelihood. Currently, BTC is valued at $64,282, showing a 2.7% decrease for the day.

Van de Poppe acknowledges the negative sentiment surrounding altcoins at the moment, attributing it to the prolonged bear market they have experienced. Retail interest in altcoins has significantly decreased as a result. However, the analyst believes that this situation will change in the coming weeks or months. He suggests that BTC’s consolidation will create opportunities for altcoins to flourish. CoinGecko reports that the altcoin market cap currently stands at $1.23 trillion, reflecting a decline of over 12% in the last month.

It is important to note that the opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades in these assets carry their own risks, and any losses incurred are the investor’s responsibility. The Daily Hodl, the source of this article, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice.