Ethereum Outperforms Bitcoin by 28% as ETF Inflows See Major Spike; Here is Why

Ethereum has recovered 28% against Bitcoin since November, climbing from 0.0322 BTC to 0.04 BTC as it hit $4,000
Despite the recent gains, Ethereum is still down around 34% against Bitcoin compared to the start of 2024
Trading data showed Ethereum moving from 0.03805 BTC on Dec 4 to 0.0388 BTC on Dec 5, before reaching 0.04 BTC today

Cryptocurrency has been a hot topic in the financial world, with Bitcoin and Ethereum leading the pack. This article will delve into the significant recovery Ethereum has made against Bitcoin since November, gaining a whopping 28%.

JUST IN: Ethereum $ETH has pumped 28% against Bitcoin $BTC over the last 2 weeks

Ethereum is back 🚀 pic.twitter.com/MpswJGcZO8
— BlockNews (@blocknewsdotcom) December 6, 2024

Ethereum’s Recovery Against Bitcoin

Since November, Ethereum has seen an incredible recovery against Bitcoin, gaining 28% to reach 0.04 BTC from a low of 0.0322 on November 21. For the first time since February, Ethereum broke the $4000 mark, currently sitting at $4009. Daily trading data revealed marginal shifts, with the rate moving from 0.03805 BTC on December 4 to 0.0388 BTC on December 5, marking a 0.07 uptick before reaching 0.04 today.

Looking at the Bigger Picture

Despite the impressive gains in the past month, Ethereum’s value against Bitcoin has seen an overall decline compared to the start of the year, dropping around 34%. This suggests that while short-term rallies may shift the ratio upward, the pair’s broader trajectory still reflects an extended period of relative weakness.

Insights from the Expert

Liam Akiba Wright, Editor-in-Chief at CryptoSlate, suggests that decentralized technology has the potential to effect widespread positive change. Wright’s insights on the cryptocurrency market are widely followed in the financial sector.

Conclusion

Ethereum’s recovery against Bitcoin is a significant development in the cryptocurrency market. However, the long-term perspective suggests a period of relative weakness. As the cryptocurrency market continues to evolve, it remains crucial to stay informed and make calculated decisions. As always, potential investors are advised to do their own due diligence before making any investment decisions in the volatile cryptocurrency market.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.