Bitcoin Eyes Further Gains as Ethereum Struggles With Declining Demand

Name	Symbol	Market	Market Cap ($)	Algorithm
Quant	QNTUSD	Crypto	1,566,989,540	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Quant

QNTUSD

Crypto

1,566,989,540

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-5.19	-4.60%	107.73	107.69	107.76

Price Change

Price Change %

Current Price

Bid Price

Offer

-5.19

-4.60%

107.73

107.69

107.76

High Price	Low Price	Open Price	Prev. Close	52 Week Range
113.91	106.62	112.59	112.92	50.05 - 171.69

High Price

Low Price

Open Price

Prev. Close

52 Week Range

113.91

106.62

112.59

112.92

50.05 - 171.69

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	09:49:12	0.046000	107.73	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

09:49:12

0.046000

107.73

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,096,619.33	9,990.94	QNT	QNTEUR	QNTGBP	QNTBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,096,619.33

9,990.94

Bitcoin Eyes Further Gains as Ethereum Struggles With Declining Demand

22/01/2025 5:00am

NEWSBTC

Bitcoin recently achieved a new all-time high, climbing above $109,000 and continuing its strong upward momentum. This performance has further highlighted the disparity between Bitcoin and Ethereum’s price trajectories, with Ethereum underperforming in recent months. While Bitcoin has captured attention for its resilience and gains, Ethereum faces challenges that have weighed on its progress. According to Percival, a CryptoQuant analyst, the new regulatory clarity provided by the pro-crypto administration in the US is contributing to Bitcoin’s strength. In contrast, Ethereum’s internal difficulties, coupled with declining demand in the spot market, have created a challenging environment for the asset. This divergence highlights how the two leading cryptocurrencies are currently moving along very different paths, with Bitcoin thriving and Ethereum struggling to maintain its footing. Related Reading: 1 Million Bitcoin Pulled From Exchanges In The Past 3 Years: What It Means For The BTC Market Ethereum’s Decline and Market Sentiment Percival pointed out that Ethereum’s struggles can be seen in several key metrics. Spot market transactions have dropped dramatically since the previous cycle, with current volumes at $8 billion compared to $52 billion during the bull market’s peak in early 2021. This represents a sharp reduction in demand, signaling that Ethereum’s current bull market participation is significantly diminished. Additionally, data shows that Ethereum has returned to levels seen in 2016, with a majority of trading days now classified as “unprofitable” when compared to Bitcoin. These challenges, according to Percival, have prompted concerns that Ethereum may need to establish a “bottom” before it can regain stability. Without this stabilization, investor sentiment could become increasingly volatile, potentially leading to further price declines. The analyst also suggests that until Ethereum can address its internal issues and rebuild confidence, its underperformance relative to Bitcoin is likely to persist. Bitcoin Momentum And Market Structure While Ethereum struggles, Bitcoin continues to benefit from favorable market conditions and positive sentiment. Percival notes that macroeconomic factors, along with increasing regulatory clarity, have positioned Bitcoin for continued growth. The Choppiness Index, an indicator of market consolidation and trend readiness, currently signals that Bitcoin has built the necessary strength to sustain its upward trajectory. The analyst believes that Bitcoin’s current market structure supports further gains in the coming days. Particularly, after a period of consolidation, Bitcoin appears poised to extend its rally, attracting more investor interest and reinforcing its position as the leading cryptocurrency. Related Reading: Ethereum Struggles As Bitcoin Dominance Pushes ETH/BTC Pair To 4-Year Low As Ethereum grapples with its challenges, Bitcoin’s steady momentum highlights the stark contrast between the two assets’ market dynamics. However, it is worth noting that it’s not all gloom for Ethereum. According to a recent post from renowned crypto analyst Ali, Q1 might just be Ethereum’s year of sudden rebound. Q1, particularly in odd-numbered years, has historically been when #Ethereum $ETH delivers its strongest performance! pic.twitter.com/Gq2iEtRGfi — Ali (@ali_charts) January 18, 2025 Featured image created with DALL-E, Chart from TradingView

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