According to sentiment analysis platform Santiment, due to less overheated discussions about Ethereum on social media, it may outperform Bitcoin in the short term.
“Ethereum has performed significantly well in the past three months, but investors have not shown enough optimism,” Santiment mentioned in a post on the X platform, considering that the Ethereum/Bitcoin ratio has increased by 32.90% over the past 30 days, according to TradingView data.
Ethereum has failed to return to its historical high of 2021.
Santiment stated, “Due to investor indifference towards Ethereum at the lows compared to Bitcoin, the current outlook shows Ethereum has a slightly more positive trend.”
Both Bitcoin and Ethereum have dropped since Thursday, when Bitcoin hit a new high of $124,128, and Ethereum approached its historical high of $4,878 from 2021.
Discussions around Bitcoin at historical highs have been overly intense.
Santiment stated that posts on social media are overly optimistic at this price level of Bitcoin. “We can see that the greed peak for BTC perfectly aligns with historical highs and local peaks,” Santiment stated.
Analysts point out that due to increased institutional buying, accelerated stablecoin usage, and changes in U.S. regulation, the target price for Ethereum has been raised. Meanwhile, Standard Chartered has raised its price forecast for Ethereum in 2025 to $7,500.
