#BTCRebound

example of crypto Ethereum rebound

(studio.glassnode.com)

For instance, one analysis from the U.Today page analyzes an example of the Ethereum rebound that occurred on August 24, 2022. Ethereum appeared to experience a slight rebound compared to Bitcoin, rising 1.94% in the last 24 hours (as of August 24) to a figure of 1,634 US dollars.

This Ethereum rebound is closely correlated with the SP500 price chart. However, it appears that Bitcoin's price did not experience significant changes when compared to Ethereum assets.

The on-chain analytics company Santiment revealed that traders may have shifted their focus from Bitcoin to Ethereum and Altcoins.

“Both Ethereum and SP500 experienced rebounds back to May price levels in mid-August, but Bitcoin is still lagging behind,” wrote Santiment.