- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Analysis: OTC Platforms and Market Makers Show Stronger Demand for ETH than BTC; ETH May Continue to Outperform BTC in the Future
BlockBeats News, August 23rd, after Federal Reserve Chairman Powell sent a dovish signal at the Jackson Hole Economic Symposium, contradicting market expectations of a tougher stance, cryptocurrencies surged on Friday night. As a result, asset managers predict that Bitcoin (BTC), Ethereum (ETH), and some altcoins will hit new highs.
Analysts at Monarq Asset Management predict that the price of Ethereum will rise to above $5,000 in the coming days. Sam Gaer, Chief Investment Officer of Monarq Direction Fund, told CoinDesk: "We maintain an overall bullish stance. The market's internal structure remains healthy, with little sign of overheating, and as you pointed out, the path to new highs for BTC and ETH is very clear."
Gaer stated that over-the-counter desks and market makers have a stronger demand for ETH than BTC, which means Ethereum may outperform Bitcoin in the future. However, BTC itself is also showing strong momentum. Gaer pointed out: "Bitcoin has only retraced about 9.6% from its all-time high, much less than earlier pullbacks this year, showing strong demand—the continuous accumulation by whale wallets around $113,000 is evidence of this."
You may also like
Paradigm's New Arithmetic: When Crypto Can't Hold 12.7 Billion, AI Becomes the Answer
Wintermute Founder: In the Lost Cryptocurrency Market, What Can We Still Do?
$1.3 Billion Debt: BitDeer Faces Tough Battle
Anthropic's IPO Gamble: At the Most Unlikely Moment, It Chose to Say No
Paradigm's Math Problem: $12.7 Billion, Too Big for a Single Crypto Fund
Ethereum Unveils Scaling Roadmap, What's Different This Time?
Anthropic Ban Wave, OpenAI $100 Billion Funding Controversy: What Is the Overseas Crypto Community Talking About Today?
Morning News | OpenAI receives $110 billion investment; Solana launches Solana Payments; M0, MoonPay, and PayPal jointly launch PYUSDx
Bloomberg: A Romanian Presidential Election Intervened by Crypto Traders
Founders Fund, Pantera, and Franklin Templeton join Sentient's "Arena" to stress test enterprise-level AI agents
Why Retail Is Shifting From Crypto to Equities: Will They Return?
Retail traders are exiting the crypto market and gravitating towards equities. Bitcoin saw a notable reduction in spot…
Canton Crypto Network vs. XRP: Understanding DTCC’s Strategic Approach to Infrastructure and Liquidity
Key Takeaways Canton Network and XRP serve distinct roles in blockchain technology: Canton for asset tokenization and atomic…
Jack Dorsey’s Block to Cut 4,000 Jobs in AI-Driven Restructuring
Key Takeaways Block’s significant job cuts aim to streamline operations for AI-driven growth. The company’s stock surged over…
Axiom Crypto Uncovered: ZachXBT Reveals $400k Insider Trading
Key Takeaways Allegations of insider trading at Axiom Crypto involve approximately $400,000 and a complex scheme where employees…
Ethereum 2029 Roadmap: ETH to Become the High-Speed Internet of Value
Key Takeaways Ethereum’s new roadmap, the “Strawmap,” aims for a settlement layer achieving 10,000 transactions per second (TPS)…
India Enhances Crypto KYC and AML Measures with Live ID and Location Checks
Key Takeaways: India classifies crypto exchanges as Virtual Digital Asset (VDA) service providers requiring enhanced Anti-Money Laundering (AML)…
Bitcoin Price Prediction: $500 Million in Short Positions Just Got Wiped Out — Is a Bull Market Beginning?
Key Takeaways: Bitcoin experienced a massive short squeeze, liquidating nearly $500 million in short positions and propelling its…
XRP Price Prediction: Ripple Invests Billions to Forge a Connection with Banks – Is $1,000 Possible?
Key Takeaways: Ripple has invested around $4 billion in establishing connections between traditional banks and crypto platforms, illustrating…
App