Ether Outshines Bitcoin as Capital Rotates Toward ETH in a Strong Two-Week Rally

Financial products backed by Ether have seen a sharp surge in demand over the past two weeks, marking a clear divergence from Bitcoin. Spot ETH ETFs attracted $360 million in net inflows, tripling the $120 million recorded by BTC ETFs. This imbalance highlights a temporary but meaningful shift in investor preference and strengthens the narrative of capital rotating in favor of Ethereum.

Strong Structural Outperformance for ETH

Ether’s recent strength is reflected not only in ETF flows but also in market structure and price action. ETH has pushed above a 20-day high at $3,200, confirming a bullish breakout and signaling renewed momentum. Bitcoin, by contrast, remains stuck below its key threshold near $96,000, waiting for a decisive technical confirmation.

The ETH/BTC ratio also shows the widening gap, with Ether reclaiming short-term technical dominance. This shift points to a market climate where liquidity and capital are being redeployed toward Ethereum rather than Bitcoin.

Retail Participation and Technical Support Strengthen the Case

The current trend isn’t limited to institutional flows. Retail investors re-entered the market aggressively on November 21, when ETH briefly dipped below $2,700. This accumulation pattern mirrors past cycles — including spring 2023 — where retail buying triggered an early recovery before a deeper correction and a sustained rebound.

Technical indicators reinforce this constructive outlook. Ethereum’s NUPL sits near 0.22, a neutral-to-positive region signaling that the market is neither overheated nor fearful. As long as the metric holds above 0.20, sentiment remains favorable for upside reactions whenever new catalysts emerge.

On the ETH/BTC chart, Ether has broken out of a 30-day consolidation range and reclaimed its 200-day moving average, a level historically associated with extended periods of ETH outperforming BTC.

Renewed Speculation on a Path to $10,000 ETH

With capital rotation, retail accumulation, and supportive technicals aligning, speculation around Ethereum revisiting the $10,000 narrative is resurfacing. The momentum is present, but the market continues to balance between bullish appetite and caution. Upcoming signals will determine whether this renewed strength evolves into a sustained long-term trend.