Despite Bitcoin’s (BTC) struggle to reclaim its all-time highest, it appears that there is a clear trend amongst the two assets, as seen in the most recent data.
Particularly, according to Matrixport’s recent report, Ethereum is now displaying greater price fluctuations Bitcoin was compared in recent weeks.
Ethereum’s Volatile Outpacing Bitcoin’s
Volatility quantifies the variations in an asset’s price over a period of time. A higher level of volatility signifies more significant changes. Matrixport data shows that the realized 30-day volatility spread between ETH (Ethereum) and Bitcoin is typically in a range of 1.0-1.5.
#Matrixport Today-Aug 13: #EthereumVolatility surpasses #Bitcoin‘s#Cryptoassets #cryptomarket #BTC #ETH pic.twitter.com/QoKsuLUrAH
— Matrixport Official English (the only official X) (@Matrixport_EN) August 13, 2024
The Ethereum cryptocurrency is a digital currency. price movements Ethereum’s price fluctuations have been 50% higher than those of Bitcoin. This suggests that Ethereum could be a more risky market for investors.
Ethereum’s increased volatility can be seen in its reaction to changes on the market. In recent weeks, Ethereum’s volatility has been higher than Bitcoin.
The price of Ethereum has been experiencing greater fluctuations since the start of the bull market.
Ethereum’s rapid growth can have a significant impact on investment strategies. larger peaks and troughs Bitcoin is a relatively stable currency, but it has different reward and risk scenarios. Matrixport reported in its report that:
Due to Ethereum’s underperformance since the start of this bull market, this higher volatility has made it a less appealing asset. As long as volatility stays in this range, purchasing Ethereum volatility on the low end may be a good opportunity.
Bitcoin And Ethereum Performance
Over the past week, it appears that both assets are almost mirroring one another. in price performanceBTC is up 7.5%, and ETH 7.9%.
There has however been a notable difference in performance over the last 24 hours. Bitcoin’s price has risen by 2,8% in the past 24 hours, reclaiming its previous $61,000 mark. Ethereum, on the other hand has only increased by 1.2% and regained its previous price of $2,700.
Bitcoin: The Technical Outlook shows Now that you have validated your asset, it is time to set up your asset. potential rebound to higher levels.
Bitcoin has successfully retested Channel Bottom support (green circles) to confirm that the Channel is being reclaimed.$BTC #Crypto #Bitcoin https://t.co/CKXDAAOA9v pic.twitter.com/ZCTQtKw580
— Rekt Capital (@rektcapital) August 13, 2024
While the technical forecast suggests that ETH may still be stuck, Crypto analysis tool known as More Crypto Online at X noted:
Bitcoin has clearly taken the lead today. Ethereum has remained in the same range for a while, but may try to break out upwards from here.
TradingView Chart and DALL-E created the featured image.
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Source: www.newsbtc.com