Ethereum Breaks New Ground Against Bitcoin After 1.5 Years: Will There Be More?

Ethereum became a hot topic with its success against Bitcoin after 1.5 years.

Cryptocurrency analyst and investor @CarpeNoctom pointed out a first in the Ethereum/Bitcoin parity after 1.5 years. Taking advantage of the cloud chart for the BTC/ETH parity, the analyst noted that Ethereum made a 2-day close above this cloud chart after approximately 565 days:

ETH/BTC closed above the 2-day cloud level for the first time in 525 days.

The cloud chart, which has been indicating a downward trend in red for about 2 years, has never been this close to turning green. Similar returns in 2017 and 2021 turned the chart green, and then Ethereum gained significant value against Bitcoin.

With the approval of spot Bitcoin exchange traded funds, Ethereum, which was crushed against Bitcoin, can rise again with the approval of spot Ethereum, which is expected to come at the beginning of July.

According to TradingView data, the ETH/BTC parity continues to trade at 0.055 at the time of writing.