Key Points
- Ethereum (ETH) has shown strong performance, with a 17.8% increase in the ETH/BTC ratio and ETF inflows over $90 million.
- Ethereum’s path to reaching its all-time high appears increasingly likely according to analysts.
Ethereum (ETH) has been a standout performer in the cryptocurrency market, experiencing an 11.65% increase to reach a high of $3,688. This growth has coincided with a shift in capital from Bitcoin (BTC).
Bitcoin managed to regain its crucial $95,000 mark on November 27, following in-line PCE price index results. Despite this, Ethereum has continued to show relative strength. The ETH/BTC ratio currently sits at 0.03760, marking a 17.8% rise from the previous week, as observed by QCP Capital.
Ethereum’s Path to All-Time High
Ethereum has been lagging behind Bitcoin and Solana (SOL) in the current rally. Nevertheless, QCP Capital believes the recent ETH gains could trigger a retest of its all-time high of $4,868, which would represent a potential upside of 35.4% from its current position.
Ethereum’s daily charts are showing bullish patterns. This includes the potential for a golden cross, which is when the 200-day and 50-day Exponential Moving Averages are on the verge of a bullish crossover.
Ethereum’s decentralized finance ecosystem has also experienced growth. The total value locked in Ethereum-based protocols has increased by approximately $10 billion. This growth has been driven by positive momentum following Donald Trump’s U.S. presidential election victory, according to data from DeFiLlama.