The changing narrative of the cryptocurrency market: BTC becomes a macro-based value, while ETH shifts towards mega shares

The changing narrative of the cryptocurrency market: BTC becomes a macro-based value, while ETH shifts towards mega shares

Reporting on the cryptocurrency market has changed in the past few months. A current report of the digital-asset management platform Blofin examines the changes and focuses on the divergent correlation between Bitcoin and Ethereum.

According to the report, Bitcoin is becoming an important macro base value and is approaching the status of traditional assets such as foreign exchange and precious metals. On the other hand, the story around Ethereum is more likely to go towards mega shares.

The report points out that the attractiveness of Ethereum in relation to liquidity could still be weaker than that of Bitcoin, especially in a time of "lack of liquidity". There is still no more extensive presentation and widespread application. The report also notes that a new crypto 3.0 story has been created that combines macro trading, artificial intelligence (AI) and other factors.

Another important aspect of the report is that Bitcoin is a fully compliant property in contrast to Ethereum. The US Stock Exchange Supervision Securities and Exchange Commission (SEC) does not recognize Ethereum as a security. This means that institutions that attach value to compliance with regulations tend to go to Bitcoin as an investment option.

The report also contains three scenarios for the future price of Bitcoin. They vary depending on the changes in interest rates and market expectations. The most optimistic scenario assumes that a Bitcoin-Spot-Exchange-Traded finds (ETF) will increase the market share of Bitcoin to over 60%. This would lead to a market capitalization of $ 960 billion and a price of over $ 49,400. In the event of less optimistic expectations, the market capitalization will be between $ 600 and $ 700 billion and the price between $ 30,880 and $ 36,026.

Another report by Capriole Invest, a leading provider of investment strategies for Bitcoin and cryptocurrencies, indicates that Bitcoin is currently struggling with considerable resistance in the $ 32,000 mark. Although there have been positive news for the industry in recent weeks, Bitcoin has not managed to keep the price level over $ 32,000. It is noted that a breakthrough over $ 32,000 or a relapse to $ 20,000 could offer greater opportunities for Bitcoin.

The report recommends remaining conservative in terms of Bitcoin and being careful in the upper $ 30,000 area. Despite an increase in the Bitcoin mining network in the past six months, by 50%, it is advisable to make major investments at the present time.

Currently, Bitcoin is the challenge of keeping his position above the important $ 30,000 mark, which is a decisive psychological level for investors. The current trading price of Bitcoin is $ 29,750.