The ether rally appears to be more organic and driven from within the crypto industry.
A bullish bitcoin mentality appears to be forming in the options market while ether continues on its roller coaster.
There appears to be strong support around $30,000, according to traders.
Very low spot volume Thursday isn’t helping bitcoin’s price.
Bitcoin fell by over $3,300 while options traders see ether going higher.
Many analysts predict that a parabolic ETH rally may be imminent, pointing to Ethereum’s surging DeFi ecosystem and network fundamentals.
The price of bitcoin has traded in a tight range Tuesday.
Bitcoin may be down now but there is still growing demand for crypto assets, one analyst said.
Analysts predict Ether may soon hit a new all-time high after ETH reserves on centralized exchanges fell by 27% in two days.
Bitcoin’s price is on a rising trend for the first time this week.