{"id":553178,"date":"2023-09-28T02:00:56","date_gmt":"2023-09-28T02:00:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=553178"},"modified":"2023-09-27T20:37:15","modified_gmt":"2023-09-27T20:37:15","slug":"ethereum-price-vs-bitcoin-can-upcoming-eth-futures","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-vs-bitcoin-can-upcoming-eth-futures\/","title":{"rendered":"Ethereum\u2019s Price Vs. Bitcoin: Can Upcoming ETH Futures-Based ETFs Turn The Tables?"},"content":{"rendered":"<p><span class=\"selectable-text copyable-text\">The Ethereum price is hovering around yearly lows compared to the dominant cryptocurrency, Bitcoin. This decline, notable since September 2022, has brought ETH to trade as low as $1,594 at the time of writing.<\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">However, amid the concerns about Ethereum&#8217;s notable plunge, there are hints of a potential trend reversal, according to the latest <a href=\"https:\/\/k33.com\/research\/articles\/hesitant-market-waiting-for-a-catalyst\" target=\"_blank\" rel=\"noopener nofollow\">report<\/a> from crypto research firm K33 Research.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-recovery-1620\/\" target=\"_blank\" rel=\"noopener \">Ethereum Price Stages Recovery But Can It Overcome This Key Hurdle?<\/a><\/div>\n<h2><span class=\"selectable-text copyable-text\">Ethereum Price Declines, Underlying Reasons<\/span><\/h2>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">K33 Research, a renowned figure in the crypto analytical space, has been closely monitoring the relationship between\u00a0Ethereum and Bitcoin. Their recent findings highlight a palpable drift in the market&#8217;s preferences between these <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-price-up-30-versus-ethereum-new-2023-lows-incoming\/\" target=\"_blank\" rel=\"noopener \">two titans<\/a>.<\/span><\/p>\n<figure id=\"attachment_253244\" aria-describedby=\"caption-attachment-253244\" style=\"width: 1093px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"has-caption wp-image-253244 size-full\" src=\"https:\/\/i0.wp.com\/www.tbstat.com\/wp\/uploads\/2023\/09\/Screenshot-2023-09-27-at-14.31.42.png?resize=1093%2C598&#038;ssl=1\" alt=\"Ethereum and Bitcoin (ETH\/BTC) price chart. \" width=\"1093\" height=\"598\"><figcaption id=\"caption-attachment-253244\" class=\"wp-caption-text\">Ethereum and Bitcoin (ETH\/BTC) price chart. | Source: <a href=\"https:\/\/k33.com\/research\/articles\/hesitant-market-waiting-for-a-catalyst\" target=\"_blank\" rel=\"noopener nofollow\">K33 Research.<\/a><\/figcaption><\/figure>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Ethereum&#8217;s native token is <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-liquid-staking\/\" target=\"_blank\" rel=\"noopener \">under strain<\/a>, hovering at a trading value near 0.06 Bitcoin. This trend traces back to a pivotal moment in Ethereum&#8217;s timeline \u2013 its transition from proof-of-work to proof-of-stake consensus, a migration dubbed &#8220;The Merge.&#8221;<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">However, Ethereum&#8217;s trajectory isn&#8217;t solely a product of its internal variation. External market factors have also played their part. The Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs) sectors have seen their buzz quiet down, which has indirectly cast a shadow over <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-uphill-task-1600\/\" target=\"_blank\" rel=\"noopener \">Ethereum&#8217;s performance<\/a>.<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Lunde, a Senior Analyst with K33, alongside Vice President Anders Helseth, reflected on this scenario in their recent report. The analysts pointed out:<\/span><\/p>\n<blockquote>\n<p dir=\"ltr\"><span class=\"selectable-text copyable-text\">Ether has experienced a steady downward trend throughout the year as DeFi and NFT activity has faded. Without any meaningful narratives or adoption stories, ether has struggled to maintain strength versus bitcoin<\/span><\/p>\n<\/blockquote>\n<h2><span class=\"selectable-text copyable-text\">Market Sentiments And Potential Catalysts<\/span><\/h2>\n<p><span class=\"selectable-text copyable-text\">Furthermore, insights from Chicago Mercantile Exchange (CME) derivative traders reveal a bearish sentiment towards Ethereum. According to the report, despite a notable 60% surge in <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-open-interest-5-billion\/\" target=\"_blank\" rel=\"noopener \">open interest<\/a> since August, the disparity between ETH futures prices and its spot remains considerably lower than that of Bitcoin. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Lunde and Helseth interpret this data to suggest that expectations of potential ETH futures ETFs being approved in the forthcoming weeks failed to gain the attention of the CME Ethereum traders.<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">However, not everything appears grim for Ethereum. Despite the bearish landscape, analysts at K33 are optimistic about a shift as the year ends. According to the report, the potential approval of new Ethereum futures-based Exchange Traded Funds (ETFs) could reverse this trend.<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w g0rxnol2\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">Such financial products could infuse new vigor into the market, attracting more institutional interest and potentially driving Ethereum&#8217;s value against Bitcoin. If approved, they could not only bolster the confidence of existing investors but might also lure new participants to the ETH platform.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-price-up-30-versus-ethereum-new-2023-lows-incoming\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Up 30% Versus Ethereum, New 2023 Lows Incoming?<\/a><\/div>\n<p>Meanwhile, Ethereum and Bitcoin have seen <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-recovery-1620\/\" target=\"_blank\" rel=\"noopener \">losses <\/a>over the past week. Ethereum has been down 2.1% with a current trading price of $1,591, and Bitcoin is down by 3.7% with a current price of $26,212.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/5IX49eGJ\/\" alt=\"Ethereum (ETH) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">Ethereum (ETH) price is moving sideways on the 4-hour chart. Source: ETH\/USDT on<a href=\"https:\/\/www.tradingview.com\/x\/3boZ6HRE\/\" target=\"_blank\" rel=\"noopener nofollow\"> TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image from Shutterstock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ethereum price is hovering around yearly lows compared to the dominant cryptocurrency, Bitcoin. This decline, notable since September 2022, has brought ETH to trade as low as $1,594 at the time of writing. However, amid the concerns about Ethereum&#8217;s notable plunge, there are hints of a potential trend reversal, according to the latest report from crypto research firm K33 Research. Related Reading: Ethereum Price Stages Recovery But Can It Overcome This Key Hurdle? Ethereum Price Declines, Underlying Reasons K33 Research, a renowned figure in the crypto analytical space, has been closely monitoring the relationship between\u00a0Ethereum and Bitcoin. Their recent findings highlight a palpable drift in the market&#8217;s preferences between these two titans. Ethereum&#8217;s native token is under strain, hovering at a trading value near 0.06 Bitcoin. This trend traces back to a pivotal moment in Ethereum&#8217;s timeline \u2013 its transition from proof-of-work to proof-of-stake consensus, a migration dubbed &#8220;The Merge.&#8221; However, Ethereum&#8217;s trajectory isn&#8217;t solely a product of its internal variation. External market factors have also played their part. The Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs) sectors have seen their buzz quiet down, which has indirectly cast a shadow over Ethereum&#8217;s performance. Lunde, a Senior Analyst with K33, alongside Vice President Anders Helseth, reflected on this scenario in their recent report. The analysts pointed out: Ether has experienced a steady downward trend throughout the year as DeFi and NFT activity has faded. Without any meaningful narratives or adoption stories, ether has struggled to maintain strength versus bitcoin Market Sentiments And Potential Catalysts Furthermore, insights from Chicago Mercantile Exchange (CME) derivative traders reveal a bearish sentiment towards Ethereum. According to the report, despite a notable 60% surge in open interest since August, the disparity between ETH futures prices and its spot remains considerably lower than that of Bitcoin. Lunde and Helseth interpret this data to suggest that expectations of potential ETH futures ETFs being approved in the forthcoming weeks failed to gain the attention of the CME Ethereum traders. However, not everything appears grim for Ethereum. Despite the bearish landscape, analysts at K33 are optimistic about a shift as the year ends. According to the report, the potential approval of new Ethereum futures-based Exchange Traded Funds (ETFs) could reverse this trend. Such financial products could infuse new vigor into the market, attracting more institutional interest and potentially driving Ethereum&#8217;s value against Bitcoin. If approved, they could not only bolster the confidence of existing investors but might also lure new participants to the ETH platform. Related Reading: Bitcoin Price Up 30% Versus Ethereum, New 2023 Lows Incoming? Meanwhile, Ethereum and Bitcoin have seen losses over the past week. Ethereum has been down 2.1% with a current trading price of $1,591, and Bitcoin is down by 3.7% with a current price of $26,212. Featured image from Shutterstock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":518350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[428,1119,8379,8323,1946,89022],"class_list":["post-553178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bitcoin","tag-btc","tag-etfs","tag-eth","tag-ethereum","tag-ethereum-futures-etfs"],"acf":[],"yoast_head":"\n<title>Ethereum Price Vs. Bitcoin: Can Upcoming ETH Futures-Based ETFs Turn The Tables?<\/title>\n<meta name=\"description\" content=\"The Ethereum price is hovering around its yearly lows compared to the dominant Bitcoin. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Ethereum Price Vs. Bitcoin: Can Upcoming ETH Futures-Based ETFs Turn The Tables?","description":"The Ethereum price is hovering around its yearly lows compared to the dominant Bitcoin. 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This decline, notable since September 2022...","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-vs-bitcoin-can-upcoming-eth-futures\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-vs-bitcoin-can-upcoming-eth-futures\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-vs-bitcoin-can-upcoming-eth-futures\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?fit=2560%2C1854","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?fit=2560%2C1854","width":2560,"height":1854,"caption":"Bitcoin (BTC) and Ethereum (ETH)"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-vs-bitcoin-can-upcoming-eth-futures\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Ethereum\u2019s Price Vs. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum\u2019s Price Vs. 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