Bitcoin Surges Past $70K, Outpaces Ethereum in ETFs
The Most Important Points in Brief
- Bitcoin (BTC) outperforms Ethereum (ETH) in recent price increases and ETF inflows.
- BTC has surpassed the 70,000 USD mark, while ETH lags behind expectations.
- Analysts are divided on ETH’s future, though some see potential for a recovery.
Bitcoin vs. Ethereum: An Uneven Race
The crypto market is currently experiencing a significant upward trend. While most cryptocurrencies are benefiting from this positive sentiment, an interesting picture emerges between the two largest cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH). Both have posted gains over the last 24 hours, but Bitcoin has clearly outpaced Ethereum.
Bitcoin managed to break through the psychologically important 70,000 USD mark and is currently trading at 72,459.92 USD. Ethereum, on the other hand, is falling short of expectations, trading at 2,686.67 USD, far from the targeted 4,000 USD mark.
Analysts’ Opinions: ETH Is Not Done
This divergent performance has caught the attention of analysts and traders. Many are criticizing Ethereum’s recent price action, with some even going so far as to call Solana (SOL) the “new Ethereum.” However, Solana has seen a slight decline of 1.79% in the last 24 hours.
Despite the criticism, there are also voices defending Ethereum. Crypto analyst Benjamin Cowen commented on the platform X (formerly Twitter) with the words: “ETH is not dead.” Other analysts like “Crypto General” also see potential for Ethereum to soon break through the 2,800 USD resistance zone and head towards 4,000 USD.
Bitcoin Dominates the ETF Market
Another area where Bitcoin is outperforming Ethereum is in inflows to exchange-traded funds (ETFs). While Bitcoin ETFs recorded an impressive 870.1 million USD in inflows, Ethereum only managed to attract 7.6 million USD. These figures highlight Bitcoin’s dominance in the market and raise the question of whether Ethereum will be able to close the gap in the coming weeks.
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Our Assessment
Bitcoin is currently showing clear dominance over Ethereum, both in terms of price performance and ETF inflows. However, there are signs that Ethereum should not yet be written off. Analysts see potential for a recovery, especially if ETH can break through the 2,800 USD mark. For investors, it will be exciting to see how the two largest cryptocurrencies develop in the coming weeks.
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
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