Bitcoin News Today: Ether outperforms Bitcoin as ETH/BTC ratio jumps 32.90% in 30 days

Ether appears to be following a more favorable short-term trajectory than Bitcoin, according to insights from crypto analytics firm Santiment. The ETH/BTC ratio has climbed by 32.90% over the past 30 days, suggesting that Ether is outperforming Bitcoin relative to its peer [1]. Despite this, social media chatter and bullish sentiment around Ether remain subdued compared to Bitcoin, which Santiment attributes to a lack of excessive optimism in the market [1].

Santiment noted that while Bitcoin reached a record high of $124,128 on Thursday, the surge was accompanied by a significant spike in greed metrics on social media platforms. In contrast, Ether, which came close to its 2021 all-time high of $4,878, did not attract the same level of enthusiastic attention from retail investors [1]. This relative calm in sentiment suggests that Ether may have more room to run before encountering overbought conditions.

The divergence in market dynamics is also reflected in price action. While Bitcoin has retreated to $117,939 from its peak, Ether has fared better, settling at $4,448 at the time of publication. Santiment emphasized that the lack of frenzied buying activity in the Ether market, particularly around dips, could signal a more balanced and sustainable bullish trend [1].

This view is echoed by other market observers. Institutional interest in Ether has been growing, fueled in part by recent regulatory developments in the United States that have boosted stablecoin adoption [1]. Analysts have also raised their price forecasts for Ether, including Standard Chartered, which upgraded its 2025 target to $7,500 from $4,000 [1]. Meanwhile, some traders have speculated that Ether could reach as high as $8,656 if Bitcoin rises to $150,000, based on historical correlations between the two assets [1].

Despite these optimistic forecasts, the crypto market has experienced broader volatility in recent days, with both Bitcoin and Ether recording pullbacks. Bitcoin fell below $119,000, while Ether dropped under $4,700 [1]. However, Ether’s ability to maintain key resistance levels and its proximity to its all-time high suggest it may be in a phase of consolidation, setting the stage for a potential breakout [1].

In summary, while both major cryptocurrencies have faced recent corrections, Ethereum’s subdued social sentiment and stronger relative performance indicate a slightly more bullish outlook in the near term. As institutional interest continues to build and the market digests recent price highs, Ether may benefit from the contrast with Bitcoin’s more crowded narrative [1][2].

Source: [1] Ether has ‘slightly more bullish path’ than Bitcoin: Santiment (https://cointelegraph.com/news/ether-bitcoin-social-chatter-sentiment-dip-buying-santiment-data)

[2] Ethereum Could Outperform Bitcoin as Crowd Sentiment ... (https://cryptodnes.bg/en/ethereum-could-outperform-bitcoin-as-crowd-sentiment-diverges-santiment-data-shows)