Ethereum back above 2,500, but weaker than BTC
The market is wondering: After dropping to a low of 2,406 yesterday and climbing back above 2,500 today, is the decline over?
Looking at Binance spot data, $ETH is now around 2,504, up about 4.1% from yesterday’s low, but still about 7.1% below the October 7 open of 2,697. It’s also down about 2.4% over the past 24 hours.
Then there’s the exchange rate. ETH/BTC is around 0.0303, down about 2% over the past 24 hours, while Bitcoin is down only about 0.3% over the same period. In other words, during this rebound, investors have been more willing to move back into Bitcoin, while Ethereum has simply been along for the ride. On top of that, U.S. spot ETFs have seen net outflows for several days in a row, and new money hasn’t returned yet.
For this rebound, I’m more bullish on Bitcoin than on $ETH , because the exchange rate is still falling. Let’s wait for ETH/BTC to stabilize before talking about an Ethereum rebound.
#以太坊升破2500美元 $ETH
The market is wondering: After dropping to a low of 2,406 yesterday and climbing back above 2,500 today, is the decline over?
Looking at Binance spot data, $ETH is now around 2,504, up about 4.1% from yesterday’s low, but still about 7.1% below the October 7 open of 2,697. It’s also down about 2.4% over the past 24 hours.
Then there’s the exchange rate. ETH/BTC is around 0.0303, down about 2% over the past 24 hours, while Bitcoin is down only about 0.3% over the same period. In other words, during this rebound, investors have been more willing to move back into Bitcoin, while Ethereum has simply been along for the ride. On top of that, U.S. spot ETFs have seen net outflows for several days in a row, and new money hasn’t returned yet.
For this rebound, I’m more bullish on Bitcoin than on $ETH , because the exchange rate is still falling. Let’s wait for ETH/BTC to stabilize before talking about an Ethereum rebound.
#以太坊升破2500美元 $ETH