The cryptocurrency space is gradually shifting its attention from Bitcoin to Ethereum as observers note indicators of a slow transition. Investors still hesitate to accept the change because they remember past market crashes that caused big losses and confusion.. Crypto analyst Michaël van de Poppe highlighted the fact that Ethereum is increasingly surpassing Bitcoin in some significant sectors of market action.
Ethereum’s price has recently surged 71% from its April bottom at $1,472 to $2,522 as demonstrated by CoinMarketCap data. While this is a dramatic gain, the cryptocurrency is still below its November 2021 peak at $4,878 by 48%. Van de Poppe thinks this uptrend may mark an eventual market transition but investors remain hesitant due to recent bear market scars.
Ethereum (ETH) trails bitcoin (BTC) despite strong inflows
Ether spot ETFs have created a bull wave in the market by achieving 19 consecutive days of inflows of capital. These inflows are equivalent to $1.37 billion and represent as much as 35% of cumulative investments since Jul 2024. Market observers translate this as an excellent sign of rising institutional interest in Ethereum, even during “Bitcoin Season.”
Based on TradingView indicators, the ETH/BTC has increased by 0.33% over the last month but declined by 32.32% since the last six months. This ambivalent trajectory has convinced experts such as Crypto Fella and Ted that Ethereum has to exhibit increased vigour for the altcoin market as a whole to recover by a large margin.
The Altseason Index is now at 23 out of 100, illustrating the fact that the market activity is still controlled by Bitcoin. However, on May 10th the index surged at 43 after the rapid bounce of Ether by 42% over the course of three days.
Analysts agree that if Ethereum crosses the $4,000 mark and maintains strong momentum, altcoins may finally see the breakout many investors are waiting for. Until then, Ethereum remains the key to unlocking the next phase of growth in the crypto market.
