Crypto market interest is slowly moving from Bitcoin ( BTC ) to Ether ( ETH ), but most investors are unlikely to notice this due to fear of past market downturns, a crypto analyst says.

“The markets aren’t entirely Bitcoin focused; as a matter of fact, it is shifting toward Ethereum,” said MN Trading Capital founder Michaël van de Poppe in a market update on Wednesday.

Van de Poppe cited recent documents from popular Bitcoin onchain analyst Willy Woo, who argued that the crypto market is entering a state of “Ethereum.”