- Bitcoin dominance remained substantially high compared to ETH.
- An altcoin season in the coming months could turn the scenario in Ethereum’s favor.
Bitcoin [BTC] and Ethereum [ETH] have been performing well in the recent past, with the former reaching an all-time high. While both the top coins remain under scrutiny, BTC and ETH have set eyes on new targets — $100k and $4k, respectively.
But which crypto is showing more promise?
Bitcoin has an upper hand!
As mentioned above, Bitcoin reached an ATH in November 2024. To the contrary, ETH’s ATH was registered during the crypto bull market of November 2021.
Though several expected the ETH 2.0 upgrade to turn the tables around, that wasn’t the case. Nonetheless, ETH currently seems right on track to target its ATH in the coming months.
Since BTC reached an ATH a few days back, more BTC investors were in profit. As per IntoTheBlock’s data, 98% of Bitcoin addresses were “in money”, while the number was 88% for ETH addresses.
Another front on which Bitcoin had a clear advantage was its dominance. AMBCrypto found that despite a decline, BTC dominance remained well above ETH dominance.
To be precise, while the Bitcoin dominance stood at over 56%, ETH dominance dropped marginally in the last 24 hours and had a value of 12.8%.
Source: BTCtools.io
What metrics suggest…
Moving forward, both cryptos had a problem. For instance, Bitcoin’s NVT ratio increased. A similar hike was also seen on ETH’s chart. This indicated that both cryptos’ were overvalued, hinting at possible pullbacks in the near-term.
Source: Glassnode
However, the metric that turned in BTC’s favor, was the exchange balance. Bitcoin’s balance on exchanges declined when ETH’s balance increased.
This meant that investors were still considering buying BTC, while ETH investors were selling. Generally, a rise in selling pressure results in price corrections.
Source: Glassnode
Since selling pressure on Ethereum was rising, it won’t be surprising to see the king of altcoins dropping to its support near $3.38 in the event of a major correction.
On the other hand, BTC’s rise in buying pressure has again pushed the coin above its $96k resistance. This suggested that the king coin could soon begin a rally towards $100k, in turn, marking a new ATH.
Nonetheless, ETH investors shouldn’t lose hope, as there were chances of ETH outshining BTC in 2025. As the market gained bullish momentum, several speculated a fresh altcoin season in the coming weeks or months.
If that happens, then ETH might earn investors more profits compared to BTC.
Bitcoin ETFs vs Ethereum ETFs
While comparing both cryptos, it becomes crucial to talk about their respective ETFs, as they have been one of the most talked-about subjects in 2024.
Interestingly, both cryptos showcased impeccable performance on this front. During BTC and ETH’s massive price hikes, their ETF inflows reached record highs. To be precise, Bitcoin ETF inflow crossed $1.3 billion on the 7th of November.
Source: Coinglass
Read Bitcoin’s [BTC] Price Prediction 2024–2025
Similarly, Ethereum ETF inflow also surged to a record high of $295 million on the 11th of November.
Though these top 2 cryptos have different purposes, they both brag robust market capitalizations. Which crypto beats the other, in terms of market value or profitability, is a question only time will answer.
