Is Ethereum Ready for a Bull Run as Bitcoin Stabilizes?
nt days amid their uptrend. Some took years to hit new milestones, and Ethereum just may be gearing up for its own feats in the coming weeks or months.
Ethereum has been making some impressive moves in the cryptocurrency world, outperforming Bitcoin in recent weeks. It’s not just about the numbers on the charts—ETH exchange-traded funds (ETFs) are also showing signs of activity. While Bitcoin is taking a breather after some wild price fluctuations post-2024 U.S. elections, Ethereum seems to be seizing the opportunity to gear up for some exciting times ahead.
When it comes to gains, ETH has certainly been a strong contender. In the last 14 days, Bitcoin saw a dip of 0.8%, while Ethereum gained a whopping 15%. Even in the past week, as BTC increased by 2.7%, ETH added 9%, showcasing the stark difference in performance between the two cryptocurrencies. Looking at the 7-day charts, it’s clear that Bitcoin has been more volatile than Ethereum recently. ETH’s chart, on the other hand, seems to be steadily building up momentum.
Many in the crypto community believe that Ethereum’s current moves indicate a possible surge in the near future—a “rocket launch,” as they like to call it. Analysts even predict that ETH could recreate the major breakout it experienced back in 2016-2017 and quickly reach new all-time highs. Ethereum’s previous peak was at $4,878 in November 2021.
Not only are individual investors noticing Ethereum’s potential, but institutions are also starting to find it more appealing. Positive flows into spot ETH ETFs for nine consecutive days have caught the eye of prominent figures like Momin Saqib.
Thursday was a remarkable day for Ethereum ETFs, with total net flows hitting a record high of $428.5 million. Since their approval for trading in July, these ETFs have shown steady growth compared to spot Bitcoin ETFs, proving that there is indeed significant interest in them. Altcoins like XRP, JasmyCoin (JASMY), and TRON’s TRX are also on the move, showing similar upward trends. While these coins have taken time to reach new heights, Ethereum seems to be on track for some exciting developments soon.
Exciting times may be ahead for Ethereum as it shows promising signs of growth and potential. Keep an eye on this altcoin as it gears up for what could be a significant journey in the crypto world.
