Bitcoin Dominance Hits 61%, Ethereum Struggles to Keep Pace

Bitcoin's dominance index (BTC.D) closed at a significant level of 61.01%, with Ethereum unable to keep pace. The gap between the two cryptocurrencies is growing, and analysts are warning of potential lower prices in May.

The recent bounce in Bitcoin has been described as a 'waiting zone' rather than a breakout signal by analyst MooninPapa. Meanwhile, Ethereum's volume is poor, and its RSI reading indicates bearish momentum building.