CandleFocus Ether Favored in Crypto Rotation as Bitcoin Recoils Off $100K Sell Wall
2024-11-25
Author: Content Editor
Ethereum's ether (ETH) is showing signs of a resurgence compared to bitcoin (BTC), gaining over 4% in the past 24 hours while BTC lost 1.5%. This outperformance is attributed to investors rotating capital to smaller, riskier cryptocurrencies following the stall of bitcoin's surge. The ETH/BTC ratio has also rebounded, indicating strength for ether. Traders anticipate that ether will perform well in the short-term, while bitcoin may pick up pace next year. U.S.-listed spot ETH ETFs saw net inflows, led by an allocation into BlackRock's ETHA product. Overall, there could be more gains in store for ether against bitcoin, while bitcoin is likely to trade sideways in the near future.
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