Ethereum's ETH Outperforms as Bitcoin (BTC) Price Recoils Off $100K Sell Wall

Crypto traders are rotating profits to ETH as bitcoin's rally stalled out, allowing the second largest crypto to shine for at least a little bit.

Traders are rotating profits as bitcoin's rally stalled out, allowing the second largest crypto to shine for at least a little bit.ETH advanced 4% during the day, outperforming BTC's 1.5% loss and slight gains of the broader market benchmark CoinDesk 20 Index.

ETH, the second-largest cryptocurrency on the market, gained over 4% in the past 24 hours, while BTC lost 1.5% during the same time, dipping below $95,000 during the Monday session. ETH even outperformed the broad-marketto smaller, riskier cryptocurrencies over the weekend following the stall of bitcoin's near-vertical surge since Donald Trump's election victory. The ETH/BTC ratio, which measures ether's strength vs. bitcoin, plummeted to as low as 0.

On the options markets, ETH risk reversals are heavily skewed in favor of frontend calls, meanwhile BTC calls seem to be more bid only from the end of December 2024 onwards, QCP noted. The positioning implies that traders anticipate ether to perform well in the short-term, while bitcoin could pick up pace next year. Risk reversal is a strategy that involves purchasing simultaneously a call option and a put option for a specific risk-reward profile.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CoinDesk /  🏆 291. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dormant Ethereum Whale Offloads 73,000 ETH, as Ethereum Struggles to Break $3,500Crypto Blog
Read more »

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP could face pullbacksBitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trade in the red on Tuesday following strong rallies since last week, driven by crypto-friendly candidate Donald Trump's election victory.
Read more »

BTC, ETH and XRP Price Prediction for November 18Has growth of Bitcoin (BTC), Ethereum (ETH) and XRP ended yet?
Read more »

BTC, ETH and XRP Price Prediction for November 25How long can growth of Bitcoin (BTC), Ethereum (ETH) and XRP last?
Read more »

Cardano (ADA) Jumps to Top Section of Weiss Crypto RankingCardano (ADA) is only accompanied by Bitcoin (BTC) and Ethereum (ETH) in top league
Read more »

BTC, ETH and XRP Price Prediction for October 28Can Bitcoin (BTC), Ethereum (ETH) and XRP come back to bullish zone soon?
Read more »