{"id":519764,"date":"2023-02-15T17:55:44","date_gmt":"2023-02-15T17:55:44","guid":{"rendered":"https:\/\/wncen.com\/?p=519764"},"modified":"2024-06-11T14:32:31","modified_gmt":"2024-06-11T14:32:31","slug":"here-are-3-factors-that-could-drive-bitcoin-higher-than-ethereum","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/here-are-3-factors-that-could-drive-bitcoin-higher-than-ethereum\/","title":{"rendered":"Here Are 3 Factors That Could Drive Bitcoin Higher Than Ethereum"},"content":{"rendered":"

Bitcoin has been rallying over the past week on the back of a decline in inflation and an apparent improvement in macroeconomic conditions. According to a recent report, the cryptocurrency has been on an uptrend since the beginning of 2022 and seems poised to outperform other major cryptocurrencies. <\/strong><\/p>\n

Related Reading: Cardano (ADA) Leads Gains Among Top Coins, Rises 8% In One Day<\/a><\/div>\n

As of this writing, Bitcoin (BTC) trades at $22,800 with a 4% profit in the last 24 hours. Over the last seven days, the BTC price saw a 2% loss, while other cryptocurrencies in the top 10 by market cap are recording heavier losses.<\/p>\n

\"Bitcoin
BTC’s price trends to the upside on the daily chart. Source: BTCUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

Ethereum Investors Are Cautions As Bitcoin Rallies<\/h2>\n

The number one crypto by market capitalization resumed its bullish momentum and retook above $22,000 as the U.S. published the Consumer Price Index (CPI), a proxy to gauge inflation. The metric came in hotter than expected for January, but not enough to deter investors from buying risk assets, like BTC.<\/p>\n

According to crypto research and analysis firm Blofin, Bitcoin returned to its current levels as market participants \u201cmight overprice the CPI.\u201d The metric hints at more interest rates hike and a tighter monetary policy from the U.S. Federal Reserve (Fed).<\/p>\n

However, market participants in crypto and the legacy financial markets are in disbelief and buying risky assets. These investors driving the current rally are likely betting on the Fed pivoting on its hawkish approach and slowing down on its monetary policy.<\/p>\n

The recent CPI print removed uncertainty from the crypto market, Blofin recorded. Less uncertainty translated into further profits for Bitcoin and the crypto market and a crash in Implied Volatility (IV) across the options space.<\/p>\n

Thus, the bullish momentum could endure until the next macroeconomic event, with BTC exercising superiority over the sector. For Ethereum, investors took a different route, according to Blofin:<\/p>\n

Although the block trades on BTC are lined with positive sentiment as many calls are traded, the traders on ETH are more cautious. Many put options are traded on, reflecting the bearish view in the short term, which may be caused by the uncertainties from the SH (Shanghai) upgrade.<\/p><\/blockquote>\n

The upcoming SH upgrade will allow investors to unlock their ETH for the first time in over two years. This event, as often happens with significant Ethereum upgrades, could bring more downside pressure into the market, contributing to BTC\u2019s capacity to outperform in the short term.<\/p>\n

In addition, a separate report from QCP Capital notes the increased regulatory pressure from authorities worldwide. The U.S. Securities and Exchange Commission (SEC) is leading the charge against the nascent industry targeting major companies and assets, such as BUSD.<\/p>\n

Related Reading: UK Think Tank Opposes Bank Of England\u2019s CBDCs<\/a><\/div>\n

The SEC has been referring to cryptocurrencies as securities in a broader and more public fashion. This new narrative creates uncertainty for all crypto investors except those holding Bitcoin. This crypto is the only one deemed as a commodity for U.S. regulators. QCP Capital noted<\/a>:<\/p>\n

With the “security” threat renewed once again, whether this is justified or not, the subsequent decline of ETHBTC to the year’s lows makes sense as only BTC has been given the all-important \u201csecurity clearance” by them.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has been rallying over the past week on the back of a decline in inflation and an apparent improvement in macroeconomic conditions. According to a recent report, the cryptocurrency has been on an uptrend since the beginning of 2022 and seems poised to outperform other major cryptocurrencies. Related Reading: Cardano (ADA) Leads Gains Among Top Coins, Rises 8% In One Day As of this writing, Bitcoin (BTC) trades at $22,800 with a 4% profit in the last 24 hours. Over the last seven days, the BTC price saw a 2% loss, while other cryptocurrencies in the top 10 by market cap are recording heavier losses. Ethereum Investors Are Cautions As Bitcoin Rallies The number one crypto by market capitalization resumed its bullish momentum and retook above $22,000 as the U.S. published the Consumer Price Index (CPI), a proxy to gauge inflation. The metric came in hotter than expected for January, but not enough to deter investors from buying risk assets, like BTC. According to crypto research and analysis firm Blofin, Bitcoin returned to its current levels as market participants \u201cmight overprice the CPI.\u201d The metric hints at more interest rates hike and a tighter monetary policy from the U.S. Federal Reserve (Fed). However, market participants in crypto and the legacy financial markets are in disbelief and buying risky assets. These investors driving the current rally are likely betting on the Fed pivoting on its hawkish approach and slowing down on its monetary policy. The recent CPI print removed uncertainty from the crypto market, Blofin recorded. Less uncertainty translated into further profits for Bitcoin and the crypto market and a crash in Implied Volatility (IV) across the options space. Thus, the bullish momentum could endure until the next macroeconomic event, with BTC exercising superiority over the sector. For Ethereum, investors took a different route, according to Blofin: Although the block trades on BTC are lined with positive sentiment as many calls are traded, the traders on ETH are more cautious. Many put options are traded on, reflecting the bearish view in the short term, which may be caused by the uncertainties from the SH (Shanghai) upgrade. The upcoming SH upgrade will allow investors to unlock their ETH for the first time in over two years. This event, as often happens with significant Ethereum upgrades, could bring more downside pressure into the market, contributing to BTC\u2019s capacity to outperform in the short term. In addition, a separate report from QCP Capital notes the increased regulatory pressure from authorities worldwide. The U.S. Securities and Exchange Commission (SEC) is leading the charge against the nascent industry targeting major companies and assets, such as BUSD. Related Reading: UK Think Tank Opposes Bank Of England\u2019s CBDCs The SEC has been referring to cryptocurrencies as securities in a broader and more public fashion. This new narrative creates uncertainty for all crypto investors except those holding Bitcoin. This crypto is the only one deemed as a commodity for U.S. regulators. QCP Capital noted: With the “security” threat renewed once again, whether this is justified or not, the subsequent decline of ETHBTC to the year’s lows makes sense as only BTC has been given the all-important \u201csecurity clearance” by them.<\/p>\n","protected":false},"author":535,"featured_media":517828,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790,8323,1946,78803],"class_list":["post-519764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt","tag-eth","tag-ethereum","tag-ethusdt"],"acf":[],"yoast_head":"\nHere Are 3 Factors That Could Drive Bitcoin Higher Than Ethereum<\/title>\n<meta name=\"description\" content=\"Bitcoin has been rallying over the past week on the back of a decline in inflation and an apparent 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here Are 3 Factors That Could Drive Bitcoin Higher Than Ethereum","url":"http:\/\/wncen.com\/news\/here-are-3-factors-that-could-drive-bitcoin-higher-than-ethereum\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/here-are-3-factors-that-could-drive-bitcoin-higher-than-ethereum\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Crypto-Bitcoin-BTC-BTCUSDT.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Crypto-Bitcoin-BTC-BTCUSDT.jpg?fit=640%2C463"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt","eth","ethereum","ethusdt"],"dateCreated":"2023-02-15T17:55:44Z","datePublished":"2023-02-15T17:55:44Z","dateModified":"2024-06-11T14:32:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here Are 3 Factors That Could Drive Bitcoin Higher Than Ethereum\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/here-are-3-factors-that-could-drive-bitcoin-higher-than-ethereum\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/here-are-3-factors-that-could-drive-bitcoin-higher-than-ethereum\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Crypto-Bitcoin-BTC-BTCUSDT.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Crypto-Bitcoin-BTC-BTCUSDT.jpg?fit=640%2C463\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\",\"eth\",\"ethereum\",\"ethusdt\"],\"dateCreated\":\"2023-02-15T17:55:44Z\",\"datePublished\":\"2023-02-15T17:55:44Z\",\"dateModified\":\"2024-06-11T14:32:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Crypto-Bitcoin-BTC-BTCUSDT.jpg?fit=640%2C463","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=519764"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/517828"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=519764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=519764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=519764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}