$ETH
Ethereum witnesses high bullish sentiment amid major ETH/BTC transition
Ethereum ETFs recorded net inflows of $40.6 million on Tuesday, marking a third consecutive day of positive flows for the products, per Coinglass data. This comes amid back-to-back net outflows in Bitcoin ETFs.
Unlike previous times where outflows in BTC ETFs drag ETH alongside it, ETH ETFs are beginning to craft their own path.
A potential reason for the positive flows could be investors rotating from Bitcoin into ETH in anticipation of an altcoin season.
Altcoin season is a phase in the cryptocurrency market cycle where investors take profits after benefiting from the Bitcoin bull market and shift their investments into altcoins with Ethereum as the leading alternative.
Most investors are calling an alt season as Ethereum has been outperforming Bitcoin in the past few weeks. Since reaching a low of $0.3204 on November 21, the ETH/BTC ratio — which measures the performance of ETH compared to BTC — has surged over 15%
