Mr Arham
08/20 09:25
Since May, ETH has ripped 100%+, while BTC is stuck around +20%, showing Ethereum’s capital dominance on the macro frame. And now, speculative flows are piling in.
In just the first two weeks of the month, ETH pulled nearly $10 billion in leverage, with Open Interest hitting a record $65 billion, while BTC barely moved the needle with a $1 billion inflow.
That means derivatives liquidity is rotating hard into Ethereum, not just spot flows. The payoff? ETH/BTC is flashing its first back-to-back MoM green since 2022, with the ratio up 70%+ since May
Why does it matter?
In a risk-on setup, money’s clearly chasing Ethereum. Both spot and leveraged flows are stacking up on ETH, leaving BTC in the dust on weekly and monthly returns.
Consequently, that makes Ethereum’s recent 4% dip more of a shakeout than a trend reversal, offering what could be a prime entry point for upside in 2025

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