Ethereum Outperformed Bitcoin This Week As Key Indicators Shift: Report
Posted On November 28, 2024
Ethereum (CRYPTO: ETH) has outperformed Bitcoin (CRYPTO: BTC) in several key metrics over the past week, signaling a potential shift in market dynamics, according to a Bybit and Block Scholes report.
What Happened: This trend comes amid the announcement of SEC Chair Gary Gensler‘s planned departure in January 2025, which has boosted sentiment around Ethereum and other altcoins.
The report highlights Ethereum’s strength in futures and perpetual markets. Bitcoin futures open interest has declined, while Ethereum futures have seen growth.
Short-dated ETH futures contracts are trading at a steep premium, with one-week contracts showing nearly 25% annualized yields over spot prices.
This development reflects growing trader …
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