Cryptocurrency Market Facing Hardship Investors May Shift from Bitcoin to Ethereum

Ethereum (ETH) is showing clear signs of recovery in the current cryptocurrency market cycle.
Despite initially lagging behind BTC in terms of gains and lacking clear catalysts, recent events indicate a shift in market sentiment in favor of ETH.
Following the partial approval of the long-awaited Ethereum ETF, the altcoin’s price only dropped by 8% to $3,387 as of June 25. On the other hand, Bitcoin lost nearly 10% to $61,950 at the time of writing.
According to crypto analyst “流” (Flow), Ethereum (ETH) has rebounded significantly against Bitcoin (BTC) from multi-year lows after a prolonged downtrend.
“流” stated:
“From the beginning of this bull market, ETH seemed to lag. Slower price action, no clear catalyst, and no strong reaction when the rest of the market was moving up. But recently, it looks like we might have witnessed a change… Is it finally time for ETH to shine? From the 3-month lows that hit almost simultaneously for BTC and ETH… Ethereum has outperformed BTC by ~9 percentage points. Even if this is largely due to the unexpected change in the SEC’s position regarding the ETH spot ETF, the message is clear: ETH is far from dead and may be full of surprises.”
If ETH maintains this upward momentum and breaks out of the historical downtrend against BTC, it could attract even more attention from large investors, potentially leading to further price increases for Ethereum.
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Following the news from Mt., Bitcoin is losing its dominance in the cryptocurrency market. Gox
Impact of Ethereum ETF
The recent upward momentum of Ethereum has been supported by the potential launch of an ETH ETF, expected to occur in early July. This development is expected to enhance the appeal of Ethereum among institutional investors, potentially attracting significant capital. Interestingly, German investors show more confidence in Ethereum compared to Bitcoin.
Despite the positive outlook, analysts remain cautious about the excitement surrounding the ETH ETF, citing their weak performance in Hong Kong compared to the spot Bitcoin ETF.
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