KEY POINTS
- $ETH is up 15% in the last 2 weeks, while $BTC shed 0.8%
- Comparative charts show that Bitcoin was more volatile than Ethereum in the last 7 days
- Ethereum ETFs logged a new record-high in inflows Thursday, hauling in $428.5 million
Ethereum has outperformed Bitcoin quite a few times in recent weeks, and it's not just the charts that are signaling something from the world's second-largest cryptocurrency, as ETH exchange-traded funds (ETFs) are also on the move.
Bitcoin appears to be taking a rest from the multiple spikes since the 2024 U.S. elections, and Ethereum may be taking advantage of BTC's ups and downs to prepare for its own trips to the moon.
$BTC Loses Out on 7-Day Rally
In terms of pricing gains, ETH has already lost the fight years ago, but in terms of performance, it's a different story altogether.
Whereas Bitcoin has been down by 0.8% in the last 14 days, Ethereum gained 15%. While BTC increased 2.7% in the past seven days, ETH added 9%, highlighting the contrast in charts between the two "rivals."
Bitcoin's 7-day chart also shows that it has been more volatile than Ethereum in the last three days. In contrast, ETH's 7-day chart appears to be on a "build-up" track.
Several crypto users agree that Ethereum's recent moves signal that it is preparing for "a potential rocket launch," a term used in the community to describe a digital asset's significant surge.
Ethereum’s setting up for a potential rocket launch 🚀—let’s see if history repeats itself!
— HDAO | Human.AI.Blockchain (@humanDAO) December 4, 2024
One analyst believes the digital currency can repeat the "impulsive breakout" that it did during the 2016 through 2017 season and expects the coin to "shoot to new ATH very quickly." ETH's all-time high was at $4,878, set back in November 2021.
#Ethereum about to break out of the 3 years of triangle consolidation, and $ETH could break out of the range where it has been for past 7 yrs.
— venturefounder (@venturefounder) December 4, 2024
Ethereum to repeat this impulsive breakout it did between 2016-2017 to shoot to new ATH very quickly
Price Target: $15,937 by May 2025 pic.twitter.com/YpOeWmM03T
Prominent crypto advocate Momin Saqib noted that Ethereum is "getting more attractive for institutions," referring to the nine-day positive flows that spot ETH ETFs had.
$ETH ETFs Hit New Record
Thursday was a big day for Ethereum ETFs. The funds hit a record-high of $428.5 million in total net flows amid a nine-day streak of positive inflows, as per data from Farside Investors.
Since getting approved for trading in July, ETH ETFs have had a much more gradual growth movement compared to spot Bitcoin ETFs. There were times when people doubted whether there was actual interest in the funds.
By the end of November, interest picked up significantly, indicating that institutions may be noticing how Ethereum is on a steady, albeit slow, uptick trend.
Altcoins on the Move
Technically, Ethereum is an altcoin (alternative crypto coin) too, and it could well be moving in a similar manner to other major alts such as XRP, JasmyCoin (JASMY) and TRON'S TRX.
The said cryptocurrencies have made waves in recent 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.
