Ethereum back in price discovery as ETH approaches $5K
The world’s second-largest cryptocurrency crossed the $4,700 mark following Bitcoin's rally. Ethereum blockchain’s native asset, Ether (ETH), touched a new record high on Nov. 8, supported by a rally across the top cryptocurrencies ahead of a key United Stat inflation report this week.ETH’s price rose by 3.30% in the past 24 hours to $4,770 for the first time in it history as Bitcoin (BTC) reclaimed $66,000, demonstrating the strong positive correlation between the two digital assets.Cryptocurrency correlation table (based on data collected in the last 24 hours). Source: Crypto....
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Ethereum and the altcoin market are stagnating against Bitcoin with the ETH/BTC pair being the key to the next altseason. Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has been lagging behind Bitcoin (BTC). Historically, when BTC surges, altcoins tend to rally with larger upside price movements.This time, Bitcoin has been clearly outperforming the altcoin market, particularly in December. BTC market cap dominance has recently risen to a one-year high of around 70%, largely due to the big sell-off in XRP in the past week. BTC/USD vs. ETH/BTC (yellow), LTC/BTC (orange),....
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