Ethereum Outshines Bitcoin with Rising ETH/BTC Rate Amidst Increased Market Volatility
ETH/USDT
$21,242,003,359.32
$2,951.21 / $2,787.00
Change: $164.21 (5.89%)
+0.0049%
Longs pay
According to a daily report by QCP on September 24, the cryptocurrency market is experiencing a pronounced bullish trend. Notably, the price of Ethereum has risen more significantly compared to Bitcoin. The ETH/BTC cross rate has climbed from 0.038 last Friday to 0.0415 today. This increase could either reflect renewed confidence in ETH or might be attributed to high volatility stemming from impaired liquidity.
In the options market, there has been a transition for ETH’s front-end skew from put options to call options. Furthermore, ETH’s implied volatility stands 9% higher than that of Bitcoin, suggesting a market sentiment shift towards an uptick in Ethereum and an anticipation of higher volatility.