Ether to continue underperformance against bitcoin, K33 Research says

Photo of author

By BitcoinWiki News

Key Takeaways:

– Persistently higher premiums on bitcoin futures indicate underperformance of ether relative to bitcoin
– Bitcoin as digital gold in a risk-off environment is more enticing than DeFi and NFT-associated ether
– Sticking to bitcoin is the safest exposure until clear proof of a spark in ether
– The SEC may not appeal the Grayscale court decision, which could lead to a strong market reaction
– Spot bitcoin ETFs from various companies are awaiting decision deadlines
– Ether and altcoins underperformed in the spot market with low trading volume and declining volatility for bitcoin
– CME next month premiums and offshore funding rates for bitcoin perps trended higher
– Derivatives market isn’t exuding strong bullish vibes with offshore funding rates below neutral
– Bitcoin futures witnessed high volatility but no significant directional momentum


A new report suggests that persistently higher premiums on bitcoin futures indicate that ether will continue to underperform relative to the largest cryptocurrency. The report argues that bitcoin’s perceived role as digital gold in a risk-off environment, along with the potential for spot bitcoin ETFs, makes it more enticing than ether, which is associated with decentralized finance (DeFi) and non-fungible tokens (NFTs). The report suggests that sticking to bitcoin is the safest exposure for now until there is clear proof of a spark in ether. The report also discusses the possibility of spot bitcoin ETFs, noting that the Securities and Exchange Commission (SEC) is not expected to appeal the Grayscale court decision. The report predicts a strong market reaction in the short-term and highlights the next set of decision deadlines for delayed spot bitcoin ETF applications. In terms of performance, ether and most altcoins have underperformed in the spot market, with ether’s underperformance to bitcoin reaching a 14-month low. The report also examines the derivatives market, noting higher premiums and offshore funding rates for bitcoin futures but a lack of strong bullish vibes overall. Despite increased volatility, the market conditions remain stable, leading to cautious trading activity.

This is sponsored by: Learn Bitcoin Option

Leave a Comment