ETH Surges Past BTC as Bitcoin ETF Inflows Reach Record High
Crypto markets are experiencing a surge in demand for Bitcoin (BTC) ETFs, but Ethereum (ETH) is outperforming its rival. In the past month, ETH has gained around 11%, while BTC has risen roughly 8%. This trend is reflected in trading volumes, with ETH spot volume reaching 300% of that of BTC on September 29.
The strong demand for Bitcoin ETFs can be attributed to renewed investor appetite and a significant source of buying pressure. However, Santiment Intelligence warns that rapidly accelerating inflows following a price rally can signal FOMO (fear of missing out) and increase the risk of an overheated market. 'Healthy demand is encouraging. Euphoric demand is where risk starts rising,' the on-chain analytics firm cautioned.
Ethereum's technical setup is also drawing attention, with crypto analyst Ali Martinez noting that ETH is forming a bull flag. A breakout above $2,700 could confirm this pattern and put $3,000 in sight. Meanwhile, widely followed trader ZeroHedge argues that the higher-time-frame picture remains constructive despite ETH slipping into a bearish-to-neutral phase on the four-hour chart.