Ethereum's ether (ETH) experienced a brief rally over the weekend, leading to hopes of a breakout in its price performance. However, the cryptocurrency market as a whole experienced a decline, causing ETH to give up most of its gains. Despite this, ETH still maintained a 2% advance over the past 24 hours. Traders noted that similar instances of an ETH rally in the past have foreshadowed weakness in the broader crypto market. Some believe that ETH's recent strength is simply a catch-up to its true value, while others see it as a potential sign of the cryptocurrency ending its multiyear decline against bitcoin. Crypto traders have shown increased interest in betting on ETH compared to BTC, with the open interest for ETH futures rising by 12% over the past 24 hours.



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