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Bitcoin Takes a Backseat as Investors Rotate Capital to ETH and Altcoins
As the crypto market begins to exhibit early signs of a brewing altcoin season, it appears that investors are shifting their attention from bitcoin (BTC) to other digital assets. According to a recent report by CryptoQuant, this shift in capital allocation could lead to significant gains for those who hold ether (ETH) and alternative coins.
In the past, ETH has consistently underperformed against BTC throughout this bull cycle. However, it seems that investors are now rethinking their positions and pouring more funds into the Ethereum-based cryptocurrency instead of bitcoin.
According to the data provided by CryptoQuant, the relative price of ETH to BTC has surged from 0.018 to 0.031, a significant increase since January. This development could indicate a reversal in the market’s focus from one asset to another.
Source: cryptopotato.com
