Ethereum has been capturing more attention than Bitcoin lately.
ETH recently surged above its 365-day moving average versus BTCa level historically associated with the beginning of bullish cycles for Ethereum. It even approached its all-time high of $4,743, while spot trading volumes outpaced Bitcoin’s for four consecutive weeks, exceeding it by $10 billion just last week.
Investor focus had been shifting toward ETH, with ETFs and futures traders increasing their exposure faster than they were to BTC. However, following this breakout, the market appears to be cooling down. Rising exchange inflows and ETH/BTC trading near historically “overvalued” levels suggest that this rally may be taking a pause.