A recent run-up in Ether (ETH) prices against its top rival Bitcoin (BTC) appears to be at the risk of exhaustion even as analysts see the second-largest cryptocurrency as stronger among the two.
In retrospect, the ETH/BTC exchange rate rose by up to 40.19% after bottoming out at 0.0553 BTC on May 23. The powerful rebound move reflected a spike in the capital flow from spot ETH to spot BTC market. That also led analysts at Delphi Digital — an independent market research firm — to highlight Ethereum's "formidable strength" in the Bitcoin-quoted markets. They wrote: