[Analysis] "Ethereum May Show Stronger Short-Term Bullish Potential Than Bitcoin"
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Summary
- Santiment reported that over the last three months, Ethereum has outperformed Bitcoin, and investor sentiment remains calm.
- The ETH/BTC ratio has risen by 32.9% in the past 30 days, with fewer signs of overheating noted in Ethereum.
- Standard Chartered announced it has raised its price target for Ethereum this year to $7,500.
An analysis has emerged suggesting that Ethereum (ETH) may maintain a stronger short-term bullish trend compared to Bitcoin (BTC).
According to Cointelegraph, a crypto-focused media outlet, market data platform Santiment stated, "While Ethereum has outperformed Bitcoin over the past three months, investors remain relatively calm about ETH," adding, "This kind of cool investor sentiment may actually boost ETH's upside potential."
Santiment highlighted that the ETH/BTC ratio has increased by 32.9% over the past 30 days. Santiment analyzed, "While Bitcoin saw a spike in the investor greed index near its all-time high, Ethereum is showing fewer signs of overheating."
Previously, on the 14th, Bitcoin dropped 5.1% from its all-time high of $124,128 to its current price of $117,939, while Ethereum approached its 2021 all-time high ($4,878) before settling at around $4,448.
Meanwhile, there are also observations pointing to improved market outlook. Crypto trader Yashasedu claimed, "If Bitcoin reaches $150,000, Ethereum could rise to as high as $8,656." Additionally, Standard Chartered recently raised its price target for Ethereum this year to $7,500 in its latest report.
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