Ethereum ($ETH ) has recently shown significant strength against Bitcoin ($BTC ), with the ETH/BTC ratio indicating a potential multi-year trend reversal. This shift is supported by both technical indicators and increasing institutional interest
🌴 Key Developments:
Technical Indicators: The ETH/BTC ratio has broken out of a three-year downtrend, and a golden cross is approaching, suggesting a bullish momentum for Ethereum
🌿 Institutional Adoption:
Companies are increasingly shifting focus from Bitcoin to Ethereum, attracted by Ethereum's functionalities such as staking, smart contracts, and NFTs. For instance, BitMine Immersion Technologies saw a 25% stock surge after transitioning from Bitcoin mining to Ethereum acquisition.
🍀 Market Performance:
Ethereum has outperformed Bitcoin in recent weeks, with ETH gaining 17.75% over the past week, compared to Bitcoin's 6% weekly gain.
🌱 ETF Inflows
: Both US BTC and ETH spot ETFs have recorded significant positive flows, indicating strong investor interest
Current Prices:
Bitcoin (BTC): $116,720.00 USD
Ethereum (ETH): $3,071.21 USD
