Ether Outperforms Bitcoin Amidst Reduced Social Media Hype
Ether has maintained a slight advantage over Bitcoin in the short term, as social media platforms exhibit less hype surrounding the cryptocurrency, according to the Santiment Sentiment platform. The $ETH amount has not shown approximately as much bullish sentiment in the past 3 months, said Santiment on Friday in an X-Post, discussing the ETH/BTC ratio, which measures the relative strength of Ether (ETH) against Bitcoin (BTC). This ratio has increased by 32.90% in the past 30 days, according to data from TradingView.
The current outlook appears somewhat bullish for Ethereum due to the lack of interest in buying the dip compared to Bitcoin, said Santiment. This sentiment is supported by data indicating that the crypto community has more interest in buying Bitcoin dips than Ether dips. Source: Santiment
Ether Fails to Reach 2021 All-Time Highs
Bitcoin and Ether have withdrawn since Thursday when Bitcoin reached a new all-time high of $124,128 and Ether recaptured its 2021 all-time high of $4,878. The Ether fell only by 1.94% when it recaptured its 2021 all-time high before taking back to $4,448 at the time of publication, according to CoinmarketCap.
In the meantime, Bitcoin has decreased by 5.10% from its all-time high of $124,128 on Thursday and is trading at $117,939 at the time of publication. This decrease in Bitcoin’s value has led to a decrease in social media chatter, with Santiment stating that social media posts became overly optimistic at this price level.
Bitcoin Chatter Reaches Foamy Levels at ATH
Santiment noted that the tip of greed on BTC was perfect with the ATH and the local top. This excessive optimism on social media platforms has led to a decrease in Bitcoin’s value, with analysts suggesting that the crypto community is more interested in buying Bitcoin dips than Ether dips.
Related: Bitcoin’s all-time high profits disappeared hours later: here is why
Analysts have recently increased targets for Ether at institutional purchase and acceleration of stable coins according to the latest regulatory changes in the USA. The Ether has increased by 32.94% in the past 30 days, according to data from Coinmarketcap.
Crypto Trader Predicts Ether to Reach $8,500
Crypto Trader Yashasedu said on Tuesday that Ether could increase to over $8,500 if Bitcoin takes a highly expected step to $150,000, based on previous bull market trends, in which Ether reaches 35% of Bitcoin market capitalization. Yashasedu said that when Bitcoin reaches $150,000, ETH can rise to $8,656.
In the meantime, the Standard Chartered increased its Ether prognosis for 2025 to $7,500 compared to an earlier target of $4,000. For more information, visit https://cointelegraph.com/news/ether-bitcoin-social-chatter-sentiment-dip-buying-santiment-data?utm_source=rss_feed&utm_medium=rss_tag_altcoin&utm_campaign=rss_partner_inbound
