Ethereum Stuck Below $3000 Amid Stronger Institutional Demand for Bitcoin

Ethereum's price has recovered from its recent dip but remains below $3000. This comes as Bitcoin hits an all-time high of $82,000, with institutional demand returning to the crypto market.

The divergence between Ethereum and Bitcoin is clear when looking at ETF flows, whale activity, and on-chain data. While traders are showing renewed buying interest in Ethereum, the underlying data does not confirm the broad demand required to sustain a price above $2500.

Ethereum's ETF inflows have been decreasing since September, with Bitcoin ETFs attracting nearly $1 billion this month. This supports Bitcoin reclaiming its all-time high and suggests that institutional investors are favoring Bitcoin over Ethereum at present.

The Ethereum network's on-chain activity is also not confirming the recovery, with daily active addresses decreasing by 5% compared to last year. A sustained move towards $3000 would be more convincing if accompanied by increasing wallet activity.