A nightmare February for memecoins seems to favor even more the growth of Bitcoin's dominance, but Ethereum could also benefit from it

BTC Dominance at Its Highest

Bitcoin dominance, above 60% in a stable manner since the beginning of February, describes the now decisive influence of institutional investments in the sector... but not only.

Especially in recent weeks, a significant push to BTC dominance also seems to come from retail investors, who in a short period of time seem to have changed the approach that had distinguished them in the previous months.

For some analysts, the recent "disappointments" coming from the memecoin world have taken on a decisive role. Not only $TRUMP and $MELANIA, but also the recent $LIBRA, as already mentioned, which recently seems to drag the entire Solana ecosystem down.

Investors' confidence is failing, and for this reason there is a clear shift of funds to Bitcoin and Ethereum.

This would be the cause of the recent increase in volatility on the altcoin side, which does not enjoy, unlike BTC and ETH, institutional capital.

What BTC is missing for a return to $100k

At the same time, for BTC to be able to exceed $100k again, a new significant “catalytic event” seems necessary, whether “political” or “macro”.

ETFs are always at the center of this dynamic, and it would not be unlikely to see BTC gain a certain stability above $100k thanks to the support of the inflows of these products, which are increasingly expanding their reach in the world month after month.

An encouraging piece of data in this sense also comes from the derivatives market. As QCP Capital reports, in fact, Bitcoin has “proved to be relatively unperturbed by recent macro data, and this suggests that the crypto options market is just waiting on the sidelines for concrete political changes”.