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Analyst Claims Ethereum ‘Isn’t Dying,’ Bitcoin Surge No Threat To Ether

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Este artículo también está disponible en español.

This week has witnessed remarkable growth in the global cryptocurrency market, spearheaded by Bitcoin. Today, the total market capitalization of the cryptocurrency market stands at $2.44 trillion, an increase of 1.61% from the previous day. Most of the digital assets are in the green zone meaning that their prices are rising and the outlook of the market is generally positive.

In this latest market frenzy, one storyline is attracting attention and some analysis: while Bitcoin is outperforming the rest and retesting $73,000, Ethereum is struggling to hit its target of $4,000. The diverging performances between the two top digital assets now serve as an interesting sub-plot to an exciting week ahead for the general cryptocurrency industry.

Ether price up in the last seven days. Source: Coingecko

Ethereum And Bitcoin- A Contrasting Story Of Market Run

As the top two cryptocurrencies by market cap, it’s natural for analysts and observers to take a second look at Ethereum and Bitcoin. While both digital assets have notched some gains, with Bitcoin rising by 1.90% and ETH by 2.59%, they still paint contradicting storylines.

As the top crypto, Bitcoin has led the recent market rally, surpassing the psychological $70,000 level and hitting $72,459.92. Last Tuesday, BTC tested the $73k level again, and analysts expect it will record another all-time high soon.

In contrast, Ethereum’s run has been sluggish, falling short of expectations. While ETH joined other coins in a mini-rally this week, its current price of $2,687 is still far from the analysts’ target of $4,000.

Ethereum is currently trading at $2,632. Chart: TradingView

ETH’s Recent Run- What Analysts Are Saying

The contrasting price runs and milestones for both top cryptos have attracted some attention. For most analysts, Bitcoin’s recent price performance validates its standing as the current top digital asset. Ethereum’s struggles to hit the elusive $4k have been criticized by some traders and analysts, with many stating that Solana is now “the next Ethereum.”

However, a few analysts still defend Ethereum and expect the blockchain to rebound soon. Benjamin Cowen, the founder and CEO of ITC, took to Twitter/X to say that the Ethereum blockchain “is not dying.” In the same post, he shared that he expects ETH/BTC to bottom this quarter and will make a run next year.

ETFs Also Show A Similar Storyline

In addition to market prices, the spot ETFs market reflects Bitcoin’s overall strength and Ethereum’s recent struggles. According to recent data, Bitcoin ETFs attracted $870.1 million, compared to Ethereum’s spot ETFs’ $7.6 million.

While many are excited about Bitcoin’s next price move, some are paying attention to ETH. Ethereum is now on the analysts’ radar, and they are checking whether ETH can benefit from the same market factors pushing Bitcoin higher.

Featured image from Pexels, chart from TradingView





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BlockJoy Introduces ‘BlockVisor 2.0,’ a Bespoke Solution for Blockchain Node Operators

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In today’s issue: Privado ID, BlockJoy, Superstate, Phylax Systems, Mawari Network, Coinbase, Base, Soulbound, Termina, Nitro Labs, Deep Blue, Arbitrum, Ika, Sui, OKX Ventures, TOP, Folius Ventures, TON, Telegram, Nebra, Truflation, ALEX, XLink, NEAR, EtherMail, Unstoppable Domains.



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No, Today Is Not Bitcoin’s Birthday

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Follow Aaron on Nostr or X.

Some things in Bitcoin are just not up for debate.

The plural of bitcoin is also bitcoin— not bitcoins. (One bitcoin, two bitcoin, three bitcoin…) Bits is a better sub-denomination than sats. (100 sats is actually one bit, like a 100 cents is one dollar; being a wholecoiner makes you the Bitcoin-equivalent of a millionaire, as that would mean you have a million bits.) And October 31st is not Bitcoin’s birthday.

Bitcoin’s birthday is January 3rd. It says so right there in block 02009-01-03 19:15:05 GMT +1. On that day Bitcoin’s blockchain launched, with 50 newly generated coins issued to Satoshi Nakamoto’s public key. (But from which Bitcoin’s creator cannot spend according to the protocol rules; since Satoshi was the only person who could have created the genesis block, that would have effectively constituted a 50 BTC pre-mine.)

Yes, Bitcoin was first proposed through Satoshi’s white paper on October 31, 2008. But you don’t celebrate your birthday on the day your mom told your dad she wanted to have a kid. Nor do you celebrate it on the day your parents conceived you, or on the day they announced you to the world via a gender reveal party.

You celebrate your birthday on the day you were born, and the same is true for Bitcoin. January 3rd.

Happy Bitcoin White Paper Day.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.



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BTC Prices Take Breather as Exchange-Traded Funds Record Another Day of Monster Inflows

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A breather in the market from a wider pump earlier in the week came amid a second straight day of strong inflows for U.S. bitcoin exchange-traded funds (ETFs). The ETFs recorded over $893 million in inflows on Wednesday after taking in $879 million on Tuesday, the first back-to-back inflows of more than $850 million. Cumulative net inflows since their introduction in January now total $24 billion, according to data tracked by Farside Investors.



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