Ether Slightly Outperforms Bitcoin in Short-Term
According to the sentiment platform Santiment, Ether is currently holding a slight advantage over Bitcoin in the short term, as the discussions on social media regarding the cryptocurrency are not as overly enthusiastic.
“The $ETH crowd hasn’t shown nearly as much bullishness despite significantly better performance over the past 3 months,” Santiment noted in a post on X on Friday. This observation comes on the heels of the ETH/BTC ratio, which tracks Ether’s (ETH) relative strength against Bitcoin (BTC), rising 32.90% over the past 30 days, as reported by TradingView.
“The current outlook shows a slightly more bullish path for Ethereum due to the lack of interest in dip buying compared to Bitcoin,” Santiment added.
Since Thursday, both Bitcoin and Ether have experienced a pullback. Bitcoin achieved a new all-time high of $124,128, while Ether nearly reclaimed its 2021 all-time high of $4,878.
At the time of publication, Ether had fallen just 1.94% short of its 2021 peak, retracing to $4,448, according to CoinMarketCap.
In contrast, Bitcoin is down 5.10% from its Thursday all-time high of $124,128, trading at $117,939 as of the latest update.
Santiment pointed out that social media discussions were becoming overly bullish for Bitcoin at its current price point. “We can see that the greed spike on BTC coincided perfectly with the ATH and local top,” Santiment remarked.
Amid a surge in institutional purchases and the rapid adoption of stablecoins following recent regulatory updates in the US, analysts have been increasing their price targets for Ether.
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Crypto trader Yashasedu mentioned on Tuesday that Ether could potentially rise to over $8,500 if Bitcoin makes its awaited move toward $150,000, based on historical trends during bull markets where Ether reaches 35% of Bitcoin’s market cap.
Yashasedu stated that if Bitcoin were to hit $150,000, then ETH might skyrocket to $8,656.
Meanwhile, Standard Chartered has revised its Ether price projection for 2025 to $7,500, an increase from its earlier target of $4,000.
