Ethereum Lagging Behind Bitcoin Could Demonstrate Altcoin Weakness

Ethereum Lagging Behind Bitcoin Could Demonstrate Altcoin Weakness

News

Ethereum spent the summer months easily dominating Bitcoin on the back of the DeFi bandwagon. Only recently when Bitcoin broke back above $12,000 with a more than $1,000 intraday candle to $13,000, has the trend changed.

Crypto traders waiting for Ethereum to catch up like the last time around, could be left with heavy bags, according to one crypto trader who says that the Altcoin

‘ href=”https://www.newsbtc.com/dictionary/altcoin/”>altcoin

might not simply be lagging, however, and may just be exhibiting “weakness” according to crypto trader Cold Blooded Shiller.

bitcoin ethereum weakness

ETH versus BTC side-by-side comparison chart exhibiting "weakness" | Source: ETHUSD Versus BTCUSD on TradingView.com

Ethereum’s weakness relative to Bitcoin is demonstrated in a side-by-side comparison shared by the trader, who compares traders waiting for ETH to catch up to BTC, to those who got burned waiting for Tezos to follow Chainlink to a new all-time high.

Related Reading | Eerie Bitcoin Fractal Suggests Ethereum’s Price Is About To Explode Higher

The new high never arrived for XTZ, meanwhile, Chainlink took off to the moon. Now it’s Bitcoin’s turn, and after such a strong summer for Ethereum, and the air coming out of the DeFi bubble, the weakness relative to BTC is likely to conintnue.

Featured image from Deposit Photos, Chart from TradingView.com

2 thoughts on “Ethereum Lagging Behind Bitcoin Could Demonstrate Altcoin Weakness

Comments are closed.