Ethereum price rises by 5% and gains ground against Bitcoin
After a difficult few weeks in which Ethereum ( ETH ) fell by about 30%, things seem to be on the up again, with the price up almost 5% today, while Bitcoin ( BTC ) remains below the $97,000 mark.
ETH price skyrockets
Ethereum price is 4.81% higher than it was 24 hours ago at the time of writing. At the same time, Bitcoin (BTC) is slightly below yesterday's value. This is a picture we have hardly seen recently.
After the major setback earlier this month caused by Donald Trump's tariff dispute, ETH is slowly recovering. After a low that saw it fall below the $2,500 mark, the digital currency is now above $2,800.
What has been particularly noticeable lately has been the imbalance between Bitcoin (BTC) and ETH. The BTC/ETH ratio fell to a low. And not only that, with a value of 0.00264 BTC per Ethereum, it was even the lowest valuation in four years. Meanwhile, Ethereum seems ready to make a comeback.
We also see this with the American spot exchange-traded funds ( ETFs ). While the BTC funds have been experiencing outflows for days, Ethereum is getting more traction.
On February 13, $12.8 million flowed into the ETH funds. For comparison, on the same day, the Bitcoin ETFs recorded an outflow of $156 million. It is clearly a sign that institutional investors are gaining more confidence in the smart contract platform.