Ethereum outperforms Bitcoin after $2.5 million liquidation
A $2.5 million Bitcoin liquidation marked a turning point for Ethereum, sparking one of its largest daily outperformance spikes since 2024.
Ethereum has lagged behind Bitcoin for months but the reaction to the liquidation created favorable conditions for Ethereum.
The bank’s head of digital asset research expects Bitcoin’s dominance over Ethereum to weaken by year’s end, with Bitcoin at $67,300 and Ethereum rising 41% to $2,700 from $1,900.