Data shows pro traders are currently more bullish on Ethereum than Bitcoin

Data shows pro traders are currently more bullish on Ethereum than Bitcoin

Most traders have noticed that Ether (ETH) price has seriously outperformed Bitcoin (BTC) for months now and the ETH/BTC ratio has rallied more than 230% in 2021 and recently hit a new high at 0.089 BTC on Dec. 9.

ETH/BTC pair at Coinbase (NASDAQ:COIN). Source: TradingView

To put things in perspective, Ether\’s $490 billion market capitalization currently represents 54% of Bitcoin\’s $903 billion. This ratio finished 2020 at a mere 15%, so it is safe to conclude that some \’flippening\’ has occurred. It might still be far from what Ethereum-maximalists imagined, but it is still quite a respectable run.

Bitcoin and Ether futures basis. Source: Laevitas.ch
Bitcoin top traders long-to-short ratio. Source: Coinglass
Ether top traders long-to-short ratio. Source: Coinglass

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