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- ETH is fading after a brief rally, while Bitcoin dominance is eyed for fresh strength.
- Bitcoin oversold near $113k with Q4 history sparking hopes of a stronger late-year rebound.
Ethereum’s price action is drawing attention as analysts suggest it may be nearing the end of a temporary rally. Samson Mow, chief executive of Jan3, has pointed to Bitcoin’s dominance over other digital assets as the factor that could decide whether Bitcoin strengthens further.
He wrote,
Bitcoin won’t run higher until dominance increases. Ethereum is in the final stages of this recent pump and dump. Once it resumes its long term downtrend against Bitcoin, Bitcoin will run.
Mow’s remarks came in response to a market analysis from investor Dan Tapiero on August 21. Tapiero argued that the bull market for both Bitcoin and Ethereum still has room left. Tapiero noted lending activity across centralized and decentralized finance sectors could again rise to multiples above 2021 levels, when total lending peaked near $70 billion before crashing.
Bitcoin won’t run higher until dominance increases. Ethereum is in the final stages of this recent pump and dump. Once it resumes its long term downtrend against Bitcoin, Bitcoin will run. https://t.co/AQBpDoIt8m
— Samson Mow (@Excellion) August 22, 2025
Bitcoin’s Position and Market Dominance
Bitcoin’s dominance is now at 59.42%, down from early August highs near 63%. Analysts see a return above 61% as a sign of renewed strength, possibly setting up the next stage of price strength.
Bitcoin set a new record of $124,128 on August 14 before pulling back. By late August, Bitcoin was trading around $113,199, with some analysts calling it oversold.
“Right now at 112, 113,000, it is pretty oversold,” said Anthony Pompliano on CNBC, highlighting September and October as potentially stronger periods. He pointed out that Bitcoin usually benefits in Q4, which historically delivered an average return of 85.42%, compared to just 6.02% in Q3.
Pompliano explained that investor behavior often strengthens late in the year. He said,
People are in front of their screens in September, they are not in front of their screens in August, so people are buying and being more active.
Fed Rate Cut Hopes Could Fuel Bitcoin
At the same time, speculation around the September 17 US Federal Reserve meeting has created expectations that a rate cut could add demand. Treasury firms raising fresh capital for Bitcoin purchases may also push buying activity higher.
Pompliano believes momentum will pick up, but does not expect the price to reach $1 million during this cycle. He stated,
Bitcoin will definitely go to one million at some point in the future, but I just think this cycle it is very unlikely that it is going to go to a million dollars.
His comments came shortly after Coinbase chief Brian Armstrong suggested Bitcoin could reach $1 million by 2030. Such long-range targets continue to fuel debate around whether cycles will follow past patterns or break them.
Meanwhile, Ethereum’s current pattern, seen by some as near the end of a pump and dump phase, could provide the opening for Bitcoin to reclaim lost ground in the coming months. At present, Ethereum is trading at $4,317.18, up 0.37%. However, it has declined by over 7% in the past week.
