Peter Schiff Picks Bitcoin Over Ethereum Even as BTC’s Dominance Drops

Peter Schiff says he would choose Bitcoin (BTC) over Ethereum (ETH) as ETH’s rally coincides with a sharp drop in its market dominance.

Schiff Sticks With Bitcoin Over Ethereum Despite ETH’s Rally

Peter Schiff has commented on the latest price movements in Bitcoin and Ethereum, reaffirming his preference for BTC. The economist and gold advocate said Ether has recorded price gains since he advised investors to switch their ETH holdings to Bitcoin.

He noted the switch was performing well until Ethereum’s rally late last week. Schiff added that he has no interest in owning either cryptocurrency but would choose Bitcoin if forced.

Well Ether is up a bit since I recommed switch it into Bitcoin, but I still think the trade will work out. If fact, it was woring well initially, until Ether just rallied late last week. I have no interest in owning either, but if you put a gun to my head, I’d chose Bitcoin.

— Peter Schiff (@PeterSchiff) August 9, 2025

Ethereum has continued to exhibit bullish activity in recent trading sessions after it broke the $4000 barrier and recorded a fresh high in 2025. Whale transactions and greater derivatives action have helped back the rally.

Its trade volume and open interest has surged too, indicating increased speculative interest. All these have contributed to the short term price strength in ETH. It has also overtaken Bitcoin in gains over the last week.

Nevertheless, BTC remains the most number one cryptocurrency in terms of market capitalization and the most popular among institutions. It has remained higher than $100,000 after new investments into spot BTC ETF and demand by corporate treasuries.

BTC Dominance Falls as Ethereum and Altcoins Gain More Market share

The market share of Bitcoin is currently at 59.1%, decreasing by 4.91% compared to the previous month. The latest data from CoinMarketCap shows Ethereum’s share rising to 13%, a gain of 3.34%, while other cryptocurrencies combined hold 28%, up 1.57%.

Just a month ago, Bitcoin controlled 63.9% of the total crypto market, with Ethereum at 9.7% and other assets at 26.4%. The trend shows a significant rotation of capital out of Bitcoin into Ethereum and other altcoins.

The dominance of Bitcoin over the last week was 61.2%. Hence, the current dominance level shows a quick decline in recent days. The drop comes after Bitcoin reached a yearly dominance high of 65.1% on June 27, 2025.

Since then, Ethereum has strengthened its position, approaching the upper end of its yearly range, while Bitcoin has pulled back. The lowest Bitcoin dominance level in the last year was 53.9%, occurring in December 2024.

Although this dominance has decreased, the crypto market leader is still Bitcoin as its market share significantly outweighs Ethereum. However, the decreasing gap means that there is increased competition as capital flows become diversified.

The next change in dominance will probably be determined by macroeconomic situations, the institutional activity of market participants, and if Ethereum can maintain its current drive.