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Data shows pro traders are currently more bullish on Ethereum than Bitcoin

Published 12/09/2021, 05:05 PM
Updated 12/09/2021, 06:40 PM
ETH/BTC
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BTC/USD
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COIN
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Most traders have noticed that Ether (ETH) price has seriously outperformed Bitcoin (BTC) for months now and the ETH/BTC ratio has rallied more than 230% in 2021 and recently hit a new high at 0.089 BTC on Dec. 9.

ETH/BTC pair at Coinbase (NASDAQ:COIN). Source: TradingView

To put things in perspective, Ether's $490 billion market capitalization currently represents 54% of Bitcoin's $903 billion. This ratio finished 2020 at a mere 15%, so it is safe to conclude that some 'flippening' has occurred. It might still be far from what Ethereum-maximalists imagined, but it is still quite a respectable run.

Bitcoin and Ether futures basis. Source: Laevitas.ch
Bitcoin top traders long-to-short ratio. Source: Coinglass
Ether top traders long-to-short ratio. Source: Coinglass

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