📉 **Bitcoin Tempers as Ether Nears $3,000 Amid Limited ETF Flow** 🚀
According to Cointelegraph, Bitcoin's performance has been lukewarm as Ether approaches the $3,000 mark, unseen in nearly two years. On February 20, Bitcoin experienced intraday lows, dipping to $51,329 on Bitstamp amid the US President's Day holiday.
🔄 **Bitcoin's Recovery and ETF Influence:**
- Bitcoin recovered swiftly, reaching $52,000.
- Limited demand due to Wall Street closure impacted new inflows into Bitcoin spot ETFs.
📉 **Market Sentiment and Predictions:**
- Material Indicators suggested a potential cooldown in Bitcoin's price action over the extended weekend.
- Predictions indicated lower targets if bearish sentiment took control.
🚀 **Focus on Ether's Strength:**
- Ether's recent strength led to a new 22-month high of $2,984 against the backdrop of Bitcoin's subdued performance.
- Ongoing upward momentum in Ethereum highlights its outperformance compared to Bitcoin.
🔍 **Altcoin Season and Ether Rally:**
- Advocacy for an altcoin season led by an Ether rally gains momentum.
- Ethereum's upward trajectory stands out, attracting attention amid Bitcoin's current trajectory.
📊 **Market Dynamics:**
- Investors closely monitor the interplay between Bitcoin and Ether, anticipating potential shifts in market sentiment.
🔄 **ETF Impact and Institutional Purchases:**
- Limited ETF flow impacts Bitcoin's recent performance, emphasizing the role of institutional purchases in influencing market sentiment.
📈 **Stay Informed:**
- Follow the evolving dynamics of Bitcoin and Ether for potential market opportunities and shifts.
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#Bitcoin #Ethereum(ETH) #TrendingTopic #cryptonews #Write2Earn Figure 1-BTC/USD 1-hour chart. Source: TradingView
Figure 2-BTC/USDT order book liquidity. Source: Material Indicators/X