{"id":653378,"date":"2024-11-16T13:30:58","date_gmt":"2024-11-16T13:30:58","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=653378"},"modified":"2024-11-15T16:23:25","modified_gmt":"2024-11-15T16:23:25","slug":"as-bitcoin-rises-why-is-ethereum-struggling-to-catch-up-analyst-explains","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/ethereum-news\/as-bitcoin-rises-why-is-ethereum-struggling-to-catch-up-analyst-explains\/","title":{"rendered":"As Bitcoin Rises, Why is Ethereum Struggling To Catch Up? Analyst Explains"},"content":{"rendered":"<p>While Bitcoin has faced strong bullish momentum in recent weeks, achieving new all-time highs consistently for days, Ethereum has been an underperformer, unable to catch up with BTC\u2019s bullish pace.<\/p>\n<p>Even compared to other crypto assets (altcoins) in the market, Ethereum has failed to make a major rally that melts faces.<\/p>\n<p>Instead, as Bitcoin achieved a peak above $93,000, leading the overall crypto market in a bullish market, Ethereum has only been able to surge to just $3,396 over the same period BTC broke multiple resistances to achieve consistent new highs.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/analysis\/xrp\/ethereum-price-at-3000\/\" target=\"_blank\" rel=\"noopener \">Ethereum Price at $3,000: Can Support Prevent Further Losses?<\/a><\/div>\n<p>So far, ETH remains roughly a 37.5% decrease away from its all-time high of $4,878, seen 3 years ago in November 2021. At the time of writing, the asset faces a correction alongside the rest of the crypto market, including Bitcoin. ETH has declined by 2.3% in the past day<span style=\"margin: 0px;padding: 0px\">, currently\u00a0<a href=\"https:\/\/www.shenyangcang.com\/analysis\/xrp\/ethereum-price-at-3000\/\" target=\"_blank\" rel=\"noopener \">trading at<\/a><\/span><a href=\"https:\/\/www.shenyangcang.com\/analysis\/xrp\/ethereum-price-at-3000\/\" target=\"_blank\" rel=\"noopener \">\u00a0$3,023<\/a>.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/thl3v5NV\/\" alt=\"Ethereum (ETH) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">ETH price is moving upwards on the 2-hour chart. Source: ETH\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=OANDA%3AEURGBP\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Why is Ethereum Struggling to Catch Up?<\/h2>\n<p data-pm-slice=\"1 1 []\">The underperformance of Ethereum relative to Bitcoin has caught the attention of market analysts. One key observation comes from a CryptoQuant analyst known as Darkfost, who provided a possible <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/67366471ab2b7-ETH-selling-pressure-remains-on-Binance\" target=\"_blank\" rel=\"noopener nofollow\">explanation<\/a> for Ethereum\u2019s price stagnation.<\/p>\n<p data-pm-slice=\"1 1 []\">According to Darkfost,\u00a0<span style=\"margin: 0px;padding: 0px\">the taker buy-sell ratio is a<a href=\"https:\/\/www.shenyangcang.com\/ethereum-news\/justin-drake-unveils-the-beam-chain-a-vision-for-ethereum-final-design\/\" target=\"_blank\" rel=\"noopener \">\u00a0crucial metric<\/a> to consider<\/span>, particularly on the Binance exchange. This ratio is an indicator of short-term market sentiment, and when it remains below 1, it suggests there is more selling pressure than buying interest.<\/p>\n<p data-pm-slice=\"1 1 []\">It can also indicate a hesitation among traders to accumulate ETH at current levels, which could contribute to a <a href=\"https:\/\/www.shenyangcang.com\/analysis\/eth\/ethereum-price-correction-3120\/\" target=\"_blank\" rel=\"noopener \">lagging price performance<\/a>.<\/p>\n<figure style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/563193\/quicktake\/uM4FRi_2ba9dfab3335260877775c56db108e4fbd93af101bc5d6b885a0cc022658da70.png?resize=1280%2C720&#038;ssl=1\" alt=\"Ethereum taker buy sell ratio.\" width=\"1280\" height=\"720\"><figcaption class=\"wp-caption-text\">Ethereum taker buy-sell ratio. | Source: CryptoQuant<\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Darkfost noted:<\/p>\n<div class=\"sc-cfb737e9-0 lmAWX\">\n<blockquote>\n<div class=\"article-box detail-box\">The taker buy-sell ratio on Binance remains bearish, as it has been below 1 most of the time over the past month. This indicates that traders are more willing to sell than buy ETH, which could explain why ETH is currently underperforming compared to BTC.<\/div>\n<\/blockquote>\n<\/div>\n<h2 data-pm-slice=\"1 1 []\">Is There Still Hope For ETH?<\/h2>\n<p data-pm-slice=\"1 1 []\">Despite Ethereum&#8217;s struggle to match Bitcoin&#8217;s gains, some analysts remain optimistic about the long-term potential of ETH.<\/p>\n<p data-pm-slice=\"1 1 []\">For example, a well-known crypto analyst, Kingpin Crypto, expressed a <a href=\"https:\/\/www.shenyangcang.com\/news\/ethereum\/ethereum-positive-funding-rates-push-price-near-4k\/\" target=\"_blank\" rel=\"noopener \">bullish sentiment<\/a> regarding ETH at its current price levels. In a recent post on X, Kingpin Crypto <a href=\"https:\/\/twitter.com\/Kingpincrypto12\/status\/77608478?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">suggested<\/a> that ETH trading around the $3,000 mark presents a notable buying opportunity.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$ETH<\/a> &#8211; Buy with conviction around the orange line and retire.<\/p>\n<p>I know the BTC pair is underwhelming and feels like it will be down only forever.<\/p>\n<p>However, I am telling you&#8230;<\/p>\n<p>Ethereum will make a NEW ATH this cycle. <a href=\"https:\/\/t.co\/T2r2TDmkb7\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/T2r2TDmkb7<\/a><\/p>\n<p>\u2014 Kingpin Crypto (@Kingpincrypto12) <a href=\"https:\/\/twitter.com\/Kingpincrypto12\/status\/77608478?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">November 15, 2024<\/a><\/p><\/blockquote>\n<p data-pm-slice=\"1 1 []\">Similarly, another crypto analyst, Yoddha, shared an <a href=\"https:\/\/x.com\/CryptoYoddha\/status\/34076401\" target=\"_blank\" rel=\"noopener nofollow\">analysis<\/a> indicating a potentially bullish pattern for Ethereum. According to the chart shared by Yoddha, ETH&#8217;s historical price movements often include a phase of retesting followed by a sharp surge in value.<\/p>\n<figure style=\"width: 2241px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/Gb36Ocka0AA561g?format=jpg&amp;name=4096x4096\" alt=\"Historical price chart of Ethereum.\" width=\"2241\" height=\"1896\"><figcaption class=\"wp-caption-text\">Historical price chart of Ethereum. | Yoddha on X<\/figcaption><\/figure>\n<p data-pm-slice=\"1 1 []\">Yoddha highlighted that Ethereum may have already completed its retest phase, suggesting that a <a href=\"https:\/\/www.shenyangcang.com\/ethereum-news\/ethereum-spot-etfs-attract-record-295-million-daily-inflows-is-eth-set-for-new-highs\/\" target=\"_blank\" rel=\"noopener \">strong price rally<\/a> could be on the horizon.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.shenyangcang.com\/news\/ethereum\/ethereum-positive-funding-rates-push-price-near-4k\/\" target=\"_blank\" rel=\"noopener \">Ethereum\u2019s Positive Funding Rates Push Price Near $4K\u2014Are There Any Downsides?<\/a><\/div>\n<p data-pm-slice=\"1 1 []\">The chart labelling \u201cwe are here\u201d points out the current position of ETH within this pattern, implying that a significant upward move may soon follow.<\/p>\n<p data-pm-slice=\"1 1 []\">Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While Bitcoin has faced strong bullish momentum in recent weeks, achieving new all-time highs consistently for days, Ethereum has been an underperformer, unable to catch up with BTC\u2019s bullish pace. Even compared to other crypto assets (altcoins) in the market, Ethereum has failed to make a major rally that melts faces. Instead, as Bitcoin achieved a peak above $93,000, leading the overall crypto market in a bullish market, Ethereum has only been able to surge to just $3,396 over the same period BTC broke multiple resistances to achieve consistent new highs. Related Reading: Ethereum Price at $3,000: Can Support Prevent Further Losses? So far, ETH remains roughly a 37.5% decrease away from its all-time high of $4,878, seen 3 years ago in November 2021. At the time of writing, the asset faces a correction alongside the rest of the crypto market, including Bitcoin. ETH has declined by 2.3% in the past day, currently\u00a0trading at\u00a0$3,023. Why is Ethereum Struggling to Catch Up? The underperformance of Ethereum relative to Bitcoin has caught the attention of market analysts. One key observation comes from a CryptoQuant analyst known as Darkfost, who provided a possible explanation for Ethereum\u2019s price stagnation. According to Darkfost,\u00a0the taker buy-sell ratio is a\u00a0crucial metric to consider, particularly on the Binance exchange. This ratio is an indicator of short-term market sentiment, and when it remains below 1, it suggests there is more selling pressure than buying interest. It can also indicate a hesitation among traders to accumulate ETH at current levels, which could contribute to a lagging price performance. Darkfost noted: The taker buy-sell ratio on Binance remains bearish, as it has been below 1 most of the time over the past month. This indicates that traders are more willing to sell than buy ETH, which could explain why ETH is currently underperforming compared to BTC. Is There Still Hope For ETH? Despite Ethereum&#8217;s struggle to match Bitcoin&#8217;s gains, some analysts remain optimistic about the long-term potential of ETH. For example, a well-known crypto analyst, Kingpin Crypto, expressed a bullish sentiment regarding ETH at its current price levels. In a recent post on X, Kingpin Crypto suggested that ETH trading around the $3,000 mark presents a notable buying opportunity. $ETH &#8211; Buy with conviction around the orange line and retire. I know the BTC pair is underwhelming and feels like it will be down only forever. However, I am telling you&#8230; Ethereum will make a NEW ATH this cycle. pic.twitter.com\/T2r2TDmkb7 \u2014 Kingpin Crypto (@Kingpincrypto12) November 15, 2024 Similarly, another crypto analyst, Yoddha, shared an analysis indicating a potentially bullish pattern for Ethereum. According to the chart shared by Yoddha, ETH&#8217;s historical price movements often include a phase of retesting followed by a sharp surge in value. Yoddha highlighted that Ethereum may have already completed its retest phase, suggesting that a strong price rally could be on the horizon. Related Reading: Ethereum\u2019s Positive Funding Rates Push Price Near $4K\u2014Are There Any Downsides? The chart labelling \u201cwe are here\u201d points out the current position of ETH within this pattern, implying that a significant upward move may soon follow. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":653381,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89518],"tags":[134,428,1119,6664,83531,8323,1946,78803],"class_list":["post-653378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-altcoin","tag-bitcoin","tag-btc","tag-crypto","tag-cryptoquant","tag-eth","tag-ethereum","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>As Bitcoin Rises, Why is Ethereum Struggling To Catch Up? Analyst Explains<\/title>\n<meta name=\"description\" content=\"While Bitcoin has faced strong bullish momentum in recent weeks achieving new all-time highs consistently for days, Ethereum has been an...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.shenyangcang.com\/ethereum-news\/as-bitcoin-rises-why-is-ethereum-struggling-to-catch-up-analyst-explains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Bitcoin Rises, Why is Ethereum Struggling To Catch Up? 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/www.shenyangcang.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"As Bitcoin Rises, Why is Ethereum Struggling To Catch Up? 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. 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