Analyst: Capital is flowing into ETH over BTC, signaling a market shift

Capital within the market is favoring Ethereum over Bitcoin, signaling a shift in leadership from Bitcoin to altcoins, according to one analysis. Cryptocurrency analyst and trader Merlijn Mertens stated on X that Bitcoin has taken a backseat as liquidity pours into Ethereum and altcoins. He noted that this rotation is clearly observable. While Bitcoin's on-chain fundamentals remain solid, Mertens argued that Ethereum is now in the driver's seat. He warned that investors who ignore this change will be left chasing the market rally rather than leading it.