Ethereum (ETH) seems to be slowly gaining ground compared to Bitcoin (BTC), but many investors do not yet realize that. According to analysts, they are mentally stuck in a Bear Market Mindset and focus primarily on the negative sentiment of recent years. Nevertheless, recent signals point to a shift in the market, with Ethereum gaining strength.
ETH/BTC ratio important signal for market shift
Michaël van de Poppe, founder of my Trading Capital, sees clear signals that the focus in the cryptomarkt is changing. “The markets are no longer entirely focused on Bitcoin, but shift towards Ethereum,” says Van de Poppe. According to Van de Poppe, the change is hardly visible, because many investors are mainly concerned with the negative sentiment of recent years.
An important sign on the wall is the ETH/BTC ratio. It rose by 0.33 percent in the past month, but is still 32 percent lower than six months ago. Analysts such as Crypto Fella point to the importance of this relationship. “This is the most important graph to keep an eye on,” he told his followers.
The inflow into American spot ETFs is also noticeable. They recently recorded inflow for 19 days, good for a record since the launch in July 2024. These ETFs attracted more than 1.37 billion dollars during that period, accounting for around 35 percent of all inflow since the launch.
ETH course recovers after a substantial relapse
Yet, according to the Altcoin Season index of Coinmarketcap, there is no real altseason yet. That index, who looks at whether Altcoins perform better than Bitcoin in 90 days, is currently at 23 out of 100. This shows that Bitcoin still has the upper hand at the moment.
Van de Poppe emphasizes that Ethereum must perform stronger to make an altseas possible possible. “If we want the altseason that everyone is looking forward to really starts, then Ethereum must perform better and show strength,” says Van de Poppe.
Despite a substantial relapse from Ethereum earlier this month, where the rate dropped by 15 percent to $ 2440, trust seems to be recovering slowly again. At the time of writing, the Ethereum course is 2540 dollars, an increase of 1.5 percent in the last 24 hours.
Source: https://newsbit.nl/analist-shift-van-bitcoin-naar-ethereum-is-al-begonnen/
