Ether (ETH) has outperformed Bitcoin (BTC) by 32% since May and even though there has been a steady flow of bullish reports from JPMorgan and Goldman Sachs, derivatives metrics show elements of bearishness in both assets.
Ether and Bitcoin price change since May. Source: TradingView
Bitcoin is trading 41% below its $64,900 all-time high and that move has driven the “Crypto Fear and Greed Index” to the lowest level since March 2020. While retail fears the dip, professionals such as global investment firm Guggenheim Investments have filed with the United States Securities and Exchange Commission for a new fund that may seek exposure to Bitcoin.
Billionaire investor Stanley Druckenmiller reiterated his bullish stance on Bitcoin when he said:
“I think BTC has won the store of value game because it’s a brand, it’s been around for 13-14 years and it has a finite supply”. Ethereum network momentum has been outstanding
Ethereum overtook Bitcoin in terms of miner revenue and network value transacted right as