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ETH will reach ATH in the near future and even sooner than BTC

2 min read

The latest figures suggest an impending big battle ETH vs. BTC when the historical maximum is reached. This time, the weight leans more towards the ETH.

Lack of liquidity for ETH

The CEO of the analytical company CryptoQuant pointed out on his Twitter the ongoing liquidity crisis in the case of ETH, which puts him in a slight advantage over BTC. The positive mood around ETH basically does not subside even more than two weeks after the successful London hard fork.

The current lack of liquidity may ultimately fire ETH at the new ATH before BTC.

ETH reserves on stock exchanges.  Source: CryptoQuant
ETH reserves on stock exchanges. Source: CryptoQuant

“In the long run, ETH can reach a new historical high even before BTC. At present, ETH is experiencing high demand compared to low supply. At the same time, weak liquidity is constantly intensifying, while the BTC reserve stopped its declining trend in May. “

BTC reserves on stock exchanges.  Source: CryptoQuant
BTC reserves on stock exchanges. Source: CryptoQuant

Duel of offers

The onslaught of bulls in the case of ETH is predicted by several well-known analysts. Some fans of the king of the DeFi sector even expect a change at the top of the rankings. In the case of BTC, we are currently witnessing a large supply shock, which has a great historical precedent and is causing a price increase.

BTC supply shock.  Source: Glassnode
BTC supply shock. Source: Glassnode

“The ratio of illiquid supply shock has been a good indicator in recent months. Impulses in both directions lead to a price value. Another significant impetus should come at 58k, “ analyst William Clemente III commented on the situation.Bitcoin Group

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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