The ETH/BTC ratio has posted two straight green candles, hinting that as Bitcoin [BTC] struggles at resistance, capital could be quietly rotating into Ethereum.
Source: TradingView (ETH/BTC)
The divergence shows up in the data, too. Bitcoin’s Open Interest has dropped 3.72%, with the price now 5% off its $122k high. Meanwhile, ETH has kept its OI drawdown to just 2%, showing more stability under pressure.
If that relative strength holds, Ethereum could be setting up for another leg higher, using this 2% dip as a springboard for a breakout above $3,000.
Post Comment