Bitcoin prices have increased emphasis in the past few days, but Ethereum prices have experienced significant upward behavior. The newest ever On the weekend. In addition to outperforming Bitcoin in terms of price action, ETH demonstrates significant on-chain activity compared to BTC.
Bitcoin is behind Ethereum
The strength of Ethereum It is becoming increasingly apparent in the current bull market cycle, with new on-chain data highlighting its edge over Bitcoin. Market expert Cryptome has it It is outlined A key metric highlighting the momentum gap between the two crypto giants in a quick take post on the encrypted platform.
Market experts say Ethereum gives a strong signal compared to Bitcoin as Wall Street is beginning to adopt Altcoin. Taking into account the trends, ETH Fundamentals It appears to paint a clear picture of resilience and market domination.
ETH has outperformed for the past three months, and this gap could last for some time. Cryptome analysis is based on comparisons Bitcoin Open Interest (OI) data Ethereum futures contracts traded on the Chicago Mercantile Exchange (CME).
Drilling into BTC’s performance, experts highlighted that Bitcoin rose to $124,000 at its new highest high after hitting a record high of $110,000 in January and fell to $74,000 in March and April. but, Open interest We did not retest the old levels during this period.
Therefore, even if Bitcoin prices rise, they cannot extract the same amount of institutional benefits as CME options. On the other hand, the situation with ETH is different. In 2024, ETH made several attempts to break beyond the $4,000 mark, but failed each time due to weak open interest.
However, Cryptome noted that open interest in CME has begun to increase this current trend. Development means that the ongoing uptrends are being strengthened by fresh liquidity inflows, indicating that Altcoin is forking from Bitcoin.
Eth meeting to new highs: no top
ETH may have skyrocketed to new highs, but Cryptome foresees a continuous uptrend due to lack of retail Intensive exchange investors. Retail investors usually go near the top and withdraw liquidity to key players. Nevertheless, retail is still not present in the current movement, indicating that ETH price action has room for healthy and growing.
In the big picture, ETH offers a more bullish outlook compared to recent BTC. Market experts say CME’s increased open profits and lack of retail participation indicate that this gap could continue in the near future.
At the time of writing, ETH is trading at $4,414, showing almost 5% over the last 24 hours. Despite the decline in price action, CoinMarketCap data reveals it Investor sentiment It slowly and bullishly changes, as evidenced by an increase in trading volume over 10% on past days.
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