Ethereum has managed to outperform Bitcoin since April, and the ETH/BTC breakout on the higher timeframes was a sign of strength for ETH. However, it does not translate to weakness on the part of Bitcoin.

Ethereum [ETH] has rallied 44% from its lows in early July, at $2,373. It was trading at $3,426 at press time, and increased institutional demand and spot ETF inflows could drive the rally even higher.