The entry of Ether spot ETFs into the US markets has also stimulated ETH, which has so far failed to perform similarly to the Bitcoin rally. In particular, the ETH / BTC parity, which has been in decline for a long time, has seen rises, while analysts predict that the trend will continue.

“Ether was below expectations”

Speaking to The Block from the US media, Arbelos Markets co-founder Joshua Tim stated that he expects the Ether rise to continue and said:

“I think the rise in the ETH / BTC parity will continue. In the short term, the rise will continue. Ether has been below expectations for a long time. There is now a new rate transformation… We have also seen increases in PoW coins. There is an expectation for more crypto-based ETFs. I think this situation is being priced in the market”

“Mt. Gox could be indirectly exposed to pressure”

Kaiko, a cryptocurrency research firm, has similar views to Lim… In Kaiko’s report yesterday, the following statements were used regarding the Ether movement:

“At the moment, it appears that Ether purchases are higher than expected. The strong situation in Ether is similar to the situation seen in Bitcoin when spot ETFs were adopted. In the coming weeks, ETF issuers will be chasing customers, while Ether will only be negatively affected by selling pressure from Mt. Gox payments in the coming weeks, Ether is likely to be indirectly exposed to the selling pressure.”

As it is known, Ether has been falling against Bitcoin since 2021, the last bull season. The ETH/BTC ratio, which rose as high as 0.08 for a period, had recently dropped below 0.05. The level, which rose above 0.06 after a long time in February, turned down again with the subsequent sharp declines.

The ETH/BTC pair rose as high as 0.12 at the end of the 2017/18 bull season.