Recently, while Bitcoin has consolidated at a low of $0.09 million, Ethereum's performance has been stronger. Data from CoinGecko shows that Ethereum has broken through $3,400, currently reported at $3,410, up 1% in the last 24 hours and 4% over the past 7 days. In contrast, Bitcoin has dropped 1.1% in the last 24 hours and earlier today even briefly fell below $0.093 million, touching a low of $92,868.96.
The ETH/BTC ratio rebounded by 2.3%.
As Ethereum strengthens, the ETH/BTC ratio rebounded 2.3% from a low of 0.03575 early this morning, reaching a high of 0.03657 around 9 o'clock, marking a new high for the week.
As of the deadline, the ETH/BTC ratio stands at 0.03633, up 1.48% in the last 24 hours.
BTC.D has declined to 57.63%.
At the same time, with Bitcoin underperforming, BTC.D (Bitcoin market dominance) has shown a decline, dropping to a low of 57.63%, a decrease of 6.33% compared to last month's peak of 61.53%. As of the deadline, BTC.D has slightly rebounded to 57.75%, down 0.43% in the last 24 hours.
The pullback of BTC.D and the relative strength of ETH have filled the market with expectations for ETH to regain its advantage next year, and it is anticipated that it may lead a new wave of altcoin season.
The proportion of long-term holders of ETH exceeds that of Bitcoin by 10%.
The firm belief in Ethereum is not just empty talk. IntoTheBlock tweeted last night the trend of long-term holder proportions of Bitcoin and Ethereum over the past year. The data shows that the proportion of long-term holders of Bitcoin has gradually decreased, while that of Ethereum has continued to rise, surpassing Bitcoin in March of this year.
As of now, the data shows that the proportion of long-term holders of Bitcoin is 62.31%, while that of Ethereum has reached 75.06%.
The amount of leveraged long positions on Bitfinex for ETH has grown by 50% in a week.
In addition, Coinglass data shows that the leveraged long position of ETH on Bitfinex has grown from less than 0.071 million ETH on December 22 to the current 104,847.23 ETH, an increase of 48%. This reflects the market's high expectations for its future rise during the consolidation period at low levels of ETH.
On-chain data analyst Ai also detected that a smart money whale (address starting with 0xEd0) withdrew 0.04 million ETH from Bitfinex two hours ago, with a total value of approximately 0.133 billion USD, at an average price of 3,326.7 USD. Subsequently, this whale deposited 0.02 million ETH into Aave and borrowed 40 million USDC, which has now been fully recharged to Binance, possibly preparing for further accumulation.
Does ETH's recent trend and the operations of whales indicate that Ethereum will rise strongly? Will the altcoin season fully bloom? This is worth close attention.