A crypto commentator is making the case that Ethereum (ETH) is positioned to outperform Bitcoin (BTC) and reclaim its all-time high (ATH) before the market leader does.<\/p>\n
This view has emerged as both digital assets test crucial support levels following a sharp market-wide correction.<\/p>\n
In a series of posts on X, analyst CrediBULL Crypto laid out<\/a> a detailed argument for ETH\u2019s potential outperformance. They suggested that Ethereum could find a market bottom shortly and then initiate a more powerful upward move than BTC.<\/p>\n This assessment points to two key chart observations: the ETH\/BTC trading pair is holding local support with significant \u201cuntapped liquidity\u201d to the upside, and individual Ethereum charts are showing a more favorable liquidity setup compared to Bitcoin.<\/p>\n \u201cCombining these two, we can conclude that if we are to bottom here soon, then it\u2019s more likely that ETH hits a new ATH before $BTC,\u201d wrote the trader.<\/p>\n However, according to CrediBULL, many traders are dismissing this possibility due to an inability to analyze charts properly or because prevailing negative sentiment has clouded their judgment.<\/p>\n Supporting the idea of a potential market turnaround, fellow expert Micha\u00ebl van de Poppe noted that the Crypto Fear & Greed Index recently hit<\/a> its lowest point in nine months, signaling extreme fear. Based on historical data, such sentiment often comes right before a rebound.<\/p>\n Additionally, Van de Poppe confirmed that a key CME gap for Bitcoin, around $91,500, has been filled. From a technical perspective, the analyst highlighted<\/a> that the gap between Bitcoin\u2019s price and its 20-day moving average is quite large, which also usually precedes a bounce. As such, he anticipates a consolidation period before a continuation upward.<\/p>\n Looking at the markets, Bitcoin is currently trading around $93,000, down some 11% for the week. Meanwhile, ETH has faced even greater pressure, changing hands near $3,150 after a 12% drop in the last seven days.<\/p>\n Different forces appear to drive this sell-off for each asset. For Ethereum, on-chain data reveals substantial selling from major holders, with a November 18 report showing that wallets holding 1,000 to 10,000 ETH sold<\/a> approximately 230,000 coins over the past week, coinciding with the price fall from around $3,600 to just over $3,200.<\/p>\n Furthermore, a lack of new investors may be slowing momentum. An analysis from CryptoQuant indicates<\/a> that new depositor activity on the Ethereum network has remained flat, even during its recent test of the $4,000-$5,000 range. This suggests the rally was fragile, likely driven by internal liquidity rather than new external demand.<\/p>\n At the same time, for BTC, the price difference between Coinbase Pro and Binance, known as the Coinbase Premium Gap, has fallen<\/a> to -$90, near its lowest level this year. This indicates that retail traders on Binance are currently dominating the market, while institutional investors on Coinbase are inactive or selling. Such a shift often leads to increased volatility and selling pressure until larger buyers return.<\/p>\n The post Analyst Sees Ethereum Outperforming Bitcoin to New ATH First<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" A crypto commentator is making the case that Ethereum (ETH) is positioned to outperform Bitcoin (BTC) and reclaim its all-time high (ATH) before the market leader does. This view has emerged as both digital assets test crucial support levels following a sharp market-wide correction. Technical Rationale In a series of posts on X, analyst CrediBULL […]<\/p>\n","protected":false},"author":0,"featured_media":113985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-113984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/113984"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=113984"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/113984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/113985"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=113984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=113984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=113984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Pressures Affecting ETH and BTC<\/h2>\n